UTI MF may introduce Wealth Builder Fund-Series IIOn October 21, 2008, UTI Mutual Fund is expected to introduce its Wealth Builder Fund-Series II, an open-ended equity oriented scheme.
28 Sep 2008
On October 21, 2008, UTI Mutual Fund is expected to introduce its Wealth Builder Fund-Series II, an open ended equity oriented scheme.
This would be the first Mutual Fund scheme that would allow investors to get exposure in equities as well as gold under the banner of the same fund.
Wealth Builder Fund Series -II could invest around 65-100 per cent in equity, 25 percent in gold and gold related instruments and 0-25% could go towards debt and money market instruments.
The performance of the equity part of the portfolio will be benchmarked against BSE-100 while the prices of gold as per Securities and Exchange Board India (SEBI) regulations for gold Exchange Traded Funds (ETF) will be the benchmark for investments in gold and gold related instruments (including domestic gold exchange traded funds).
The proposed scheme- Wealth Builder Fund Series-II will be an open-ended fund while Wealth Builder Series I is a closed-ended fund with investments only in equities.