UTI Mutual Fund has launched two index funds: the UTI Nifty India Manufacturing Index Fund and the UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund.
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The New Fund Offer (NFO) for both schemes will open on January 28 and close on February 10.
Both funds will be benchmarked against the Nifty India Manufacturing TRI and Nifty Midsmallcap 400 Momentum Quality 100 TRI. The schemes will be managed by Sharwan Kumar Goyal and Ayush Jain.
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The minimum initial investment amount for both schemes is Rs 1,000, with subsequent investments in multiples of Re 1. The minimum SIP amount for daily, weekly, and monthly SIPs is Rs 500, with subsequent amounts in multiples of Re 1. The minimum quarterly SIP amount is Rs 1,500, also in multiples of Re 1.
The UTI Nifty India Manufacturing Index Fund is an open-ended scheme that replicates or tracks the Nifty India Manufacturing TRI.
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