NAV as on 21/03/2016 for
The principal investment objective of the scheme is to invest in stocks of companies comprising S&P CNX Nifty and endeavour to achieve return equivalent to Nifty by “passive” investment. The scheme will be managed by replicating the index in the same weightage as in S&P CNX Nifty – Index with the intention of minimising the performance difference between the scheme and the S&P CNX Nifty – Index in capital terms, subject to market liquidity, cost of trading, management expenses and other factors which may cause tracking error. The scheme would alter the scrips /weights as and when the same are altered in the S&P CNX Nifty Index.
The fund would be qualified as a investment option targeting investment under Govt. Notified Rajiv Gandhi Equity Savings Scheme, 2012.
Mr. Kaushik Basu
Kaushik Basu is a B. Com graduate, LLB, ICWA (Inter) and ICS.
Required Lock in for Tax Benefits under Sec 80 CCG of Income Tax Act, 1961: Lock in period (for units in respect of which deduction under section 80 CCG has been claimed for any assessmentyear) shall be as per the provision of Sec 80 CCG of the Income Tax Act,1961 read with CBDT notification S.O.2777(E) dated 23rd Nov 2012.
Redemption not permitted before maturity. The units of the scheme will be listed on the stock exchange as may be decided by UTI AMC, after the closure of the New Fund Offer. Investor will be able to enter & exit the fud through transactions in the secondary market within fifteen days of the allotment.The scheme will have a maturity date/ final redemption date. The scheme will compulsorily without any further act by the unit holder (s) be redeemed on the maturity / final redemption date.On maturity / final redemption date of the scheme units under the scheme will be redeemed at the applicable NAV. For redemption made on the maturity date/ final redemption date the AMC does not intend to charge any exit load.
The deduction under the Scheme shall be available to a new retail investor who complies with the conditions of the Scheme and whose gross total income for the financial year in which the investment is made under the Scheme is less than or equal to ten lakh rupees.
The new retail investor are the following resident individual,
For "other" investor please refer to SID
This Scheme provides for claiming deduction in the computation of total income of the assessment year relevant to a previous year on account of investment in eligible securities under subsection (1) of section 80CCG of the Income-tax Act,1961.
For details please refer to the SID
Kaushik Basu is a B. Com graduate, LLB, ICWA (Inter) and ICS. He has been with UTI AMC since 1984 and has acquired experience as a dealer in the department of Dealings and subsequently as an Assistant Fund Manager and Fund Manager in the department of Fund Management. Presently, he is working as a Fund Manager.
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