Stocks

Baroda Mutual, UTI MF file papers with SEBI for NFO

Our Bureau Mumbai | Updated on April 19, 2021

Former targets biz cycle, latter 30 stocks

Baroda Mutual Fund and UTI Mutual Fund have filed their initial papers with the Securities and Exchange Board of India (SEBI) for launching new fund offers.

Baroda Mutual Fund plans to launch an open-ended equity scheme, Business Cycle Fund, which will focus on dynamic allocation between various sectors and stocks at different stages of business cycles in the economy. The fund will be benchmarked to BSE-500 TRI (total return index). The index represents the top 500 companies based on full market capitalisation from the eligible universe. The scheme will follow a multi-cap approach based on various trends in the business cycle.

UTI Mutual Fund

The fund house plans to launch a Focussed Fund. The scheme aims to generate long term capital appreciation by investing in equity & equity-related instruments, with a maximum of 30 stocks across market caps.

The scheme can invest up to 100 per cent in equity, it may also invest up to 25 per cent in debt and money market instruments while for REITs and InvITs, and it can invest up to 10 per cent.

The scheme can also seek investment opportunities in ADR/ GDR/ Foreign Securities, in accordance with the guidelines stipulated by the SEBI and the RBI.

Published on April 19, 2021

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