UTI Mutual Fund files offer document for Fixed Term Income Fund-Series XX

UTI Mutual Fund has filed offer document with SEBI to launch a Close Ended Income Scheme named as "UTI Fixed Term Income Fund - Series XX". The New Fund Offer price is Rs 10 per unit. Entry and exit load charges will be nil for the scheme. The scheme offers growth and dividend option and seeks to collect a Minimum Target Amount of Rs 20 crore. The scheme will be benchmarked against less than 90 days : CRISIL Liquid Fund Index, 90 days to 1095 days: CRISIL Short Term Bond Fund Index and more than 1095 days : CRISIL Composite Bond Fund Index. The minimum application amount is Rs.5,000 & in multiples of 10 under all the options/Plans. The investment objective of the scheme is to generate returns by investing in a portfolio of fixed income securities maturing on or before the date of maturity of the scheme.