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Mumbai, Oct. 5 UTI Mutual Fund launched UTI Energy Fund on Friday. The fund is widening the investment objective of its existing UTI-GSF-Petro and renaming the fund to UTI Energy Fund.

The investment objective of this new fund is to invest in the companies under the energy sector and to capitalise on the emerging opportunities in the sector.

In addition to investing in stocks in the oil and gas sector, companies engaged in drilling, exploration, refining of crude oil and distribution, it will also invest in power-generation companies, energy storage and distribution companies and equipment manufacturers for the energy sector.

The new offer is an open- ended equity scheme, with growth option and dividend option with payout and reinvestment facilities.

The minimum initial investment is Rs 5,000 and subsequent minimum investment is Rs 1,000, whereas the minimum investment under SIP is Rs 500 for monthly it is Rs 1,500 for quarterly plans.

The entry load is 2.25 per cent for investment less than Rs 2 crore and exit load is one per cent if units are redeemed or switched out on or before 180 days from the date of investment, whereas in case of investments of Rs 2 crore and above there is no entry load and exit load is 0.50 per cent. The scheme will invest in a spectrum of sub-sectors and companies which form a part of the energy sector,” said Ms Gautami Desai, Fund Manager of the scheme.

More Stories on : New Fund Offer | Power | Mutual Funds

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