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UTI`s variable investment scheme open`s tomorrow
Mumbai, Nov 06: Unit Trust of India will launch tomorrow its variable investment scheme (VIS), targeted to provide superior risk adjusted returns through dynamic asset allocation between equity and debt.
Mumbai, Nov 06: Unit Trust of India will launch tomorrow its variable investment scheme (VIS), targeted to provide superior risk adjusted returns through dynamic asset
allocation between equity and debt.
The investors would be able to subscribe to VIS, an open ended scheme, till November 22, UTI said in a release here today.
The scheme would reduce its exposure to equity as the valuation goes up and raise the share of equity component when valuations are down, the release said.
UTI would attempt to make first income distribution (dividend), subject to the availability of surplus, within 12 months from the closure of the initial offer, it added. The face value of a unit would Rs 10. On reopening of the scheme (after closure on November 22), the sale price would not be more than 102 per cent net asset value (NAV).
The NAV would be calculated daily after reopening of VIS for sale and repurchase within 30 days of closure of open offer.
Bureau Report
The scheme would reduce its exposure to equity as the valuation goes up and raise the share of equity component when valuations are down, the release said.
UTI would attempt to make first income distribution (dividend), subject to the availability of surplus, within 12 months from the closure of the initial offer, it added. The face value of a unit would Rs 10. On reopening of the scheme (after closure on November 22), the sale price would not be more than 102 per cent net asset value (NAV).
The NAV would be calculated daily after reopening of VIS for sale and repurchase within 30 days of closure of open offer.
Bureau Report