UTI Mutual Fund launches UTI Nifty Midcap 150 ETF

economictimes.indiatimes.com:

UTI Mutual Fund (UTI) has announced the launch of UTI Nifty Midcap 150 ETF. The UTI Midcap 150 ETF will be a passively managed scheme and it will replicate the performance of the underlying index, Nifty Midcap 150 TRI. The New Fund Offer or NFO is open for subscription, and it will close on 28th August. The scheme will reopen again on 5th September

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“The UTI Nifty Midcap 150 ETF enables investors to tap into India's midcap universe through the Midcap 150 index, offering the potential for attractive returns and exposure to emerging leaders. With its affordability, it serves as a cost-effective avenue to invest in the midcap market segment,” said Sharwan Kumar Goyal, Head – Passive, Arbitrage & Quant Strategies, UTI AMC In the ETF space, UTI MF currently has seven ETF products — based on broad large cap based indices (Nifty 50, Sensex, Nifty Next 50 and Sensex Next 50), sectoral thematic index (Nifty Bank) and ETFs based on commodities (Gold & Silver). To further expand UTI MF products in the overall market-cap coverage, the company is now launching the ETF in the midcap segment with UTI Nifty Midcap 150 ETF.