UTI Mutual Fund announces the launch of a new scheme â€œUTI Dynamic Bond Fundâ€.Â The New Fund Offer has opened on June 16, 2010 and closes on June 23, 2010. The scheme is reported to re-open for purchase and redemption not later than 30 days from the closure of the NFO period.
UTI Dynamic Bond Fund is an open ended income scheme. Reports say that the investment objective of the Fund is to generate optimal returns with adequate liquidity, through active management of the portfolio, by means ofÂ investing in debt and money market instruments.
Mr Puneet Pal, Fund Manager of the scheme said, â€œUTI Dynamic Bond Fund will be actively managed in line with the evolving interest rate scenario. It will have the ability to mimic a cash fund when interest rates are rising thereby preserving capital and it will endeavour to generate attractive returns of an income fund when interest rates are declining.â€
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