UTI Mutual Fund has launched a new open ended income scheme, UTI Dynamic Bond Fund. The new fund offer will be available from 16th June, 2010 to 23rd June, 2010. The minimum investment amount of the scheme is Rs 10,000. The investment objective is to generate optimal returns with adequate liquidity through active management of the portfolio, by investing in debt and money market instruments. The scheme will invest up to 99 per cent of assets in money market, debentures and securitised debt with residual maturity of less than one year with low to medium risk profile. It would further allocate 1 per cent to 100 per cent of assets in debt instruments including securitised debt with maturity of more than one year with medium risk profile. The scheme will not charge any entry load and exit load charge will be 0.50 per cent if investment redeemed between 30 days from the date of investment. The scheme will be managed by Mr. Puneet Pal and will be benchmark against CRISIL Composite Bond Fund Index.
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