Home » Stock Market Articles » UTI Mutual Fund bags three Lipper Fund Awards Gulf 2008
UTI Mutual Fund bags three Lipper Fund Awards Gulf 2008
UTI Mutual Fund has won the Lipper Fund Awards Gulf 2008 for Best Group over the past three years ending December 31, 2007 in the category of Mixed Assets
/Stock Market PR News/ - MUMBAI, INDIA, May 04, 2008 - UTI Mutual Fund has won the Lipper Fund Awards Gulf 2008 for Best Group over the past three years ending December 31, 2007 in the category of Mixed Assets.
Also two schemes of UTI Mutual Fund viz. UTI Banking Sector Fund-Dividend and UTI Mahila Unit Scheme have won Lipper Fund Awards Gulf 2008. The details of the awards are enumerated below:
UTI Banking Sector Fund- Dividend has been ranked as the Best Fund over past three years ending December 31, 2007 by Lipper and has won the Lipper Fund Awards Gulf 2008 in the category of Equity Sector Banks and Other Financials. The award for UTI Banking Sector Fund-Dividend indicates the Best Fund within the stated category, which had a total of 8 similar schemes including this scheme.
UTI Mahila Unit Scheme has been ranked as the Best Fund over past three years ending December 31, 2007 by Lipper and has won the Lipper Fund Awards Gulf 2008 in the category of Mixed Asset INR Conservative. The award for UTI Mahila Unit Scheme indicates the Best Fund within the stated category, which had a total of 20 similar schemes including this scheme.
UTI Banking Sector Fund is an open-end equity oriented scheme. The investment objective of the scheme is "capital appreciation" through investments in stocks of companies engaged in the banking and financial services activities.
UTI Mahila Unit Scheme is an open-end debt oriented scheme which invests in a portfolio of equity/equity related securities and debt and money market instruments with a view to generate reasonable income with moderate capital appreciation.
Methodology :
For the Two winning schemes:
Lipper uses the Lipper Leader for Consistent Return methodology, which takes into account risk-adjusted performance of funds and values out performance and consistency of returns to determine a Lipper Award winner. The currency for the calculation is the U.S. dollar and the universe of funds is funds registered for sale in the GCC.
For the Group winner:
Competing groups should have at least three distinct portfolios in the mixed-asset category to be eligible for the award. The best average decile rank of the three years' consistent return measure of the eligible funds and group determines the mixed-asset group award winner.
Disclaimer:
The methodology does not take into account the entry and exit loads levied by the schemes. The ranking is not a guarantee of performance and is no indication of the performance that can be expected from the schemes in future.
Although Lipper makes reasonable effort to ensure the accuracy and reliability of the data contained, accuracy is not guaranteed by Lipper. Users acknowledge that they have not relied upon any warranty, condition, guarantee or representation made by Lipper. Any use of the data for analyzing, managing or trading financial instruments is at the users' own risk. This is not an offer to buy or sell securities.
Data source: Lipper, a Reuters Company (www.lipperweb.com).
About UTI MF
UTI Mutual Fund is a SEBI registered mutual fund whose Sponsors are State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India The total assets under management ("AUM") equalled Rs.495,418 million, as of September 30, 2007 and have approximately 8.1 million client accounts.
"UTI AMC is proposing, subject to market conditions and other considerations, a public issue of its equity shares and has filed a Draft Red Herring Prospectus with SEBI. The Draft Red Herring Prospectus is available on the website of SEBI at www.sebi.gov.in and the respective websites of the BRLMs at www.jmfinancial.in, www.citibank.co.in, www.enam.com, www.gs.com/country_pages/india, www.ibb.ubs.com/Corporates/indianipo, www.icicisecurities.com, www.sbicaps.com and www.india.clsa.com. Potential investors should refer to the DRHP for Risk Factors and other information. This advertisement is restricted and not for publication or distribution in or into the United States. This advertisement is not for offer or sale in or into the United States of any equity shares or any other security of the company. The securities of the company have not been and will not be registered under the US Securities Act of 1933, as amended from time to time and may not be sold in the United States absent registration under US securities laws or an exemption from such registration. There will be no public offering of any equity shares or any other security of the company in the United States."
LOAD STRUCTURE FOR REGULAR AND SIP APPLICATIONS:
FOR UTI Banking Sector Fund: Entry Load: _ Rs. 2 crores - 2.25%, _ = Rs. 2 crores - Nil; Exit Load for _ = 180 days, _ Rs. 2 crores - 1% for _ = 180 days, _= Rs. 2 crores - 0.50% and _= 180 days - Nil
For UTI Mahila Unit Scheme: Entry Load : 1.5% Exit Load: 0.75% if exited before 1 year
Direct applications: No entry load to be charged for direct applications received by the Asset Management Company i.e. applications received through internet, submitted to AMC or Collection Centre / Investor Service Centre that are not routed through any distributor / agent / broker (including applications for additional purchases received directly from an investor under the same folio and switch-in to a scheme from other schemes, if such a transaction is done directly by the investor).
Registered Office: UTI Tower, 'Gn' Block, Bandra - Kurla Complex, Bandra (E), Mumbai - 400 051. Statutory Details: UTI Mutual Fund has been set up as a trust under the Indian Trust Act, 1882. Sponsors: State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India. ( Liability of sponsors limited to Rs. 10,000/-) Trustee: UTI Trustee Co. (P) Ltd. (Incorporated under the Companies Act, 1956) Investment Manager: UTI Asset Management Company Ltd. (Incorporated under the Companies Act, 1956). Risk Factors: All investments in Mutual Funds and securities are subject to market risks and the NAV of funds may go up or down depending on the factors and forces affecting the securities markets. There is no assurance that the Fund's objectives will be achieved. Past performance of the Sponsor / Mutual Fund / Scheme(s) / AMC is not necessarily an indicative of future results. UTI Mahila Unit Scheme and UTI Banking Sector Fund-Dividend are only the names of the funds/schemes and do not in any manner indicate the quality of the funds/schemes, its future prospects or returns. There may be instances where no Income Distribution could be made. Realisation of all assurances and promises made, if any are subject to the laws of the land as they exist at any relevant point of time. The schemes are subject to risks relating to Credit, Interest rates, Liquidity, Securities Lending, Investment in Overseas markets, Trading in Equity and Debt derivatives (the specific risk could be Credit, Market, Illiquidity, Judgemental Error, Interest Rate Swaps and Forward Rate Agreements). Please contact the nearest UTI Financial Centre, Chief Representative or AMFI certified UTI Agent for a copy of the Key Information Memorandum cum Application Form and Offer Document. Please read the offer document carefully before investing.
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+91-22-26730120/121
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