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UTI Mutual Fund launches two new ETFs

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UTI Mutual Fund (UTI) has launched two new ETFs – the UTI Nifty Exchange Traded Fund and UTI Sensex Exchange Traded Fund.  Both will be traded on the Bombay Stock Exchange (BSE) and the  National Stock Exchange pf Indi (NSE) from 3 September 2015. 

UTI Nifty Exchange Traded Fund (UTI Nifty ETF) and UTI Sensex Exchange Traded Fund (UTI Sensex ETF) are open ended Exchange Trade Funds. The investment objective of the schemes 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 schemes will be achieved. 

UTI Nifty Exchange Traded Fund will invest in securities which are constituents of CNX Nifty Index and in Money Market Instruments in accordance with the asset allocation pattern. 

UTI Sensex Exchange Traded Fund will invest in securities which are constituents of S&P BSE Sensex Index and in Money Market Instruments in accordance with the asset allocation pattern. 
The fund manager of both the schemes is Kaushik Basu. 

Suraj Kaeley (pic), Group President (Sales and Marketing), UTI AMC, says: “ETFs are highly flexible and can be used as a tool for gaining instant exposure to equity markets. UTI Nifty ETF and UTI Sensex ETF have a number of benefits such as diversification, low cost and transparency. Investors can invest in a diversified portfolio representative of broad Indian economy and create a long term ‘Core’ holding in their portfolio. UTI Nifty ETF and UTI Sensex ETF are amongst one of the lowest cost ETFs in the country.

“ETFs launched by UTI are well suited for Institutions and PF Trusts who over a period of time will benefit from the growth in the Indian Economy.”

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