Financial Daily from THE HINDU group of publications
Tuesday, Jan 10, 2006
Financial Daily from THE HINDU group of publications Tuesday, Jan 10, 2006 |
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Markets
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New Fund Offer SPrEAD gets SEBI nod Nilanjan Dey
Kolkata, Jan. 9 UTI MF has received the regulator's consent for an open-end scheme that will tap arbitrage opportunities arising out of price differences between cash and derivatives. The proposed UTI-Spread Between Prices of Equity and Derivative Fund (SPrEAD) will come with two plans — A and B. While some of the other fund houses have lately come up with such a product, this will be a first for UTI MF. Plan A will try to provide capital appreciation and dividend distribution by investing chiefly in equities/derivatives and the balance in debt. Plan B will invest predominantly in debt securities, while keeping the balance in equity and equity-related instruments and derivatives.
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