UTI Mutual Fund Updates Benchmarks for Select Schemes
UTI Mutual Fund has changed the benchmarks for three of its schemes to match them better with the goals and timelines of their investments. The moves are likely to provide an improved basis for performance comparisons in a manner consistent with the risk and maturity profiles of these schemes.
The UTI Annual Interval Fund – I and UTI Annual Interval Fund – II, which were so far benchmarked against the CRISIL Low Duration Debt Index, will now be benchmarked against the CRISIL Low Duration Debt A-I Index. Similarly, UTI Fixed Term Income Fund – Series XXXVI – I (1574 Days) has shifted from being benchmarked against the CRISIL Medium to Long Term Debt Index to CRISIL Short Duration Debt A-II Index.
In fact, despite changes in benchmarks, the investment strategies of these schemes do not change. These updates are meant to help investors compare the schemes’ performance more accurately with the new benchmarks. Investors should check these changes to make sure their plans still match their goals.
Apart from this, four new mutual fund schemes opened for investment on December 2, 2024. These New Fund Offers are from Kotak Mahindra Mutual Fund, Quantum Mutual Fund, and Tata Mutual Fund.
Kotak has introduced two funds named the Kotak Nifty 100 Equal Weight Index Fund and the Kotak Nifty 50 Equal Weight Index Fund. Both are open-ended index funds.
Both the subscription periods of the funds stand open until 16th December 2024; the equal weight indices avoid concentration risk in their investing strategy.
Tata Mutual Fund has announced launching a close-ended debt scheme, the Tata Fixed Maturity Plan Series 61 Scheme D (91 Days). This short-term investment fund is scheduled to close on December 4, 2024.
The Quantum Ethical Fund has been introduced as an open-ended equity scheme that focuses on ethical investing. Investors can subscribe to this fund until December 16, 2024. It is a good choice for those who want their investments to match socially responsible values.
These updates show how mutual fund companies are working to meet the needs of investors by offering a variety of options that suit different financial goals and preferences.
