Zerodha & UTI MF Launch New Investment Schemes in India
By Sivam
Zerodha Mutual Fund and UTI Mutual Fund introduce new investment schemes in India, including a Life Cycle Fund and an ETF, expanding options for investors.
India’s Fund Market Sees New Entrants
India’s mutual fund scene is getting fresh options as Zerodha Mutual Fund and UTI Mutual Fund have filed new offer documents with market regulator SEBI. This move expands the range of investment products available for retail investors.
Zerodha’s Life Cycle Fund 2051
Zerodha’s new offering is an open-ended scheme, the ‘Zerodha Life Cycle Fund 2051’.
- The New Fund Offer (NFO) price is set at Rs 10 per unit.
- An exit load applies: 3% for holdings up to 1 year, 2% for 1-2 years, and 1% for 2-3 years. No load after 3 years.
- The fund aims to collect a minimum of Rs 10 crore.
UTI Launches Sector Leaders ETF
UTI Mutual Fund is introducing the ‘UTI BSE India Sector Leaders Exchange Traded Fund’ (ETF), also an open-ended scheme.
- Units will be priced at Rs 10 during the NFO.
- Notably, this ETF will have no entry or exit loads.
- The scheme targets a minimum of Rs 5 crore and will track the BSE India Sector Leaders TRI.
- Minimum application for the NFO is Rs 5000, with multiples of Re 1 thereafter.
These new filings underscore the continuous evolution and diversification of India’s financial market, providing more choices for investors looking to grow their wealth.