UTI Long Term Advantage Fund- Series V
UTI
Mutual Fund has launched a new 10 year close ended Equity Linked Savings
Scheme, UTI Long Term Advantage Fund –Series V. The fund was launched on
December 22, 2016
The
investment objective of the fund is to generate capital appreciation over a
period of 10 years by investing predominantly in equity and equity related
instruments of companies along with income tax benefit. The fund will follow an
investment strategy of bottom up picking of stocks to benefit from the low base
effect, visible earnings expansion and revival in the domestic cyclicals. Given
the long term investment horizon of the fund, suitable for investors looking to
benefit from distinctive and concentrated portfolio primarily focussed on the
business cycle and complements current investor portfolios that are
pre-dominantly geared towards non-cyclicals.
The
tenure of the fund is 10 years with lock in period of 3 years. During the NFO
period the fund sold at face value of Rs.10.
No entry or exit loads
are applicable. The fund offers 2 plans- Direct and Regular and 2 options viz.
Growth and Dividend option with payout option only.
Investing
in UTI Long Term Advantage Fund –Series V allows tax concession in multiple
ways, primarily the contribution of up to 1.5 lakhs in the scheme is eligible
for tax benefits under Sec 80C of the IT Act, 1961. Secondly, the dividends
received from the fund will be tax free in the hands of the investors and
lastly redemption proceeds will attract zero tax on capital gain, as investment
is held for minimum period of 3 years (lock-in).
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