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UTI MF's six thematic schemes

MUMBAI, MARCH 8. UTI Mutual Fund will hit the capital market tomorrow with initial public offering for its sixth Thematic funds including auto, banking and public sector undertakings (PSUs).

The subscription for the IPO would remain open till March 25 and the scheme will re-open for sales and repurchase not later than 30 days from the closure of the initial offer, UTI MF said in a release here today.

The funds in the schemes are — Large Cap Fund, Mid Cap Fund, Basic Industries Fund, Auto Sector Fund, Banking Sector Fund and PSU Fund.

The sale of units under each scheme would be at face value of Rs. 10 during the IPO period. On re-opening of the scheme, sale of units would be at 102 per cent of net asset value.

The primary objective of the schemes was capital appreciation. However, these funds may also distribute income to the unit-holders.

— PTI

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