UTI Mutual Fund (UTI) today announces the launch of a new scheme “UTI Credit Opportunities Fund”. The New Fund Offer opens on 25 October 2012 and closes on 8 November 2012. The scheme will re-open for purchase and redemption from 26 November 2012 onwards.
UTI Credit Opportunities Fund is an open ended income scheme with no assured returns. The investment objective of the scheme is to generate reasonable income and capital appreciation by investing in debt and money market instruments across different maturities and credit ratings. There is no assurance that the investment objective of the scheme will be achieved.
Mr Amandeep Chopra, Head- Fixed Income and Fund Manager of the scheme said, “Uncertain times call for smart investment strategies. This uncertainty has brought with it a set of opportunities like capitalisation on changing market conditions like change in credit outlook of company/sector and upgrade/downgrade revision of rating of securities. UTI Credit Opportunities Fund endeavours to identify and capitalize on these opportunities by investing in securities across the credit spectrum. UTI's in-house research team will help in identifying these opportunities in the fixed income markets.”
“UTI Credit Opportunities Fund will over a period of time have a diversified portfolio spread across risk/reward curve. The scheme will focus on investing in mispriced credit with modest credit quality. A large part of the portfolio will be invested in high rated issuers in short and long term. The scheme would be relatively aggressive on credit but low to medium on interest rate sensitivity. “ he added