DelhiDesk UTI Mutual Fund has launched two index funds- UTI Nifty50 Equal Weight Index Fund and UTI S&P BSE Housing Index Fund. The new funds opened for subscription on May 22, 2023, and will close on June 5, 2023. The investment objective of both open-ended index fund schemes is to provide returns that correspond to the total return of the securities represented by the underlying index, subject to tracking error. In other news, SEBI has proposed a uniform total expense ratio (TER) across mutual fund schemes to bring transparency to the costs charged to unitholders.
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👉 Mutual funds: UTI Mutual Fund has launched two index funds- UTI Nifty50 Equal Weight Index Fund, and UTI S&P BSE Housing Index Fund.
👉 The new fund offers (NFOs) opened for subscription today, May 22, 2023, and will close on June 5, 2023.
👉 The investment objective of the open-ended index fund scheme is to provide returns that, before expenses, correspond to the total return of the securities as represented by the underlying index, subject to tracking error.
👉 SEBI has proposed a uniform total expense ratio (TER) across mutual fund schemes in a bid to bring transparency to the costs charged to unitholders.
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