COIMBATORE: UTI Mutual Fund launched a new scheme `UTI-Wealth Builder Fund' here on Wednesday.

K.V. Sundar Rajan, Post Master General, Western Region, formally launched the new plan, which he said would close on October 11.

Automatic conversion

The scheme is a close-ended equity plan that has a maturity period of five years with automatic conversion into an open-ended scheme upon maturity. The objective is to achieve long-term capital appreciation by investing predominantly in a diversified portfolio of equity and equity-related instruments so as to bring maximum advantage to investors.

Partnership

Mr. Sundar Rajan said that the Postal Department had joined hands with UTI Mutual Fund and that the partnership had turned out to be a fruitful one for both the parties concerned. The Postal Department had brought in more than Rs. 2 crore revenue for the UTI Mutual Fund in this region, he added.

S. Ganesh, Senior Vice President explained in detail the endeavours that UTI MF provided investors for new wealth creation.

Best option

R. Vijaykumar, Regional Sales Head - South, mentioned that for a common investor coming to a post office, the new scheme would turn out to be the best option.

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