UTI Mutual Fund launches UTI S&P BSE Low Volatility Index Fund

UTI Mutual Fund (UTI) has launched the new fund offer (NFO) of an open-ended scheme tracking the S&P BSE Low Volatility Total Return Index (TRI) – ‘UTI S&P BSE Low Volatility Index Fund’. The NFO will close on February 25, 2022. The scheme will re-open for subscription and redemption on ongoing basis from March 07, 2022.

The investment objective of the scheme is to provide returns that, before expenses, closely correspond to the total returns of the securities as represented by the underlying index, subject to tracking error. However, there is no guarantee or assurance that the investment objective of the scheme will be achieved.

Minimum initial investment at the time of NFO is Rs. 5,000. There will not be an exit load on the units of this scheme. Since this is a passively managed index fund, there is no fund manager risk. Compared to actively managed funds index fund charge less towards expense ratio.