UTI MF launches 2 index funds
UTI Mutual Fund has launched two index funds – UTI Nifty Alpha Low-Volatility 30 Index Fund and UTI Nifty Midcap 150 Index Fund.
UTI Nifty Alpha Low-Volatility 30 Index Fund is UTI’s first multi-factor offering. The underlying index Nifty Alpha Low-Volatility 30 Index provides exposure to portfolio of 30 companies within Nifty 100 (100 Large-cap companies) & Nifty Midcap 50 (50 Mid-cap companies) selected based on composite score i.e. 50% Alpha Score & 50% Low Volatility Score.
On the other hand, the UTI Nifty Midcap 150 Index Fund provides exposure to the entire universe of midcap companies listed on NSE.
In a press release, Sharwan Kumar Goyal, Head – Passive, Arbitrage & Quant Strategies, UTI AMC, said, “UTI Nifty Alpha Low-Volatility 30 Index Fund can provide diversification benefit during different economic and equity market cycles. The fund may be considered as a one stop solution for investors seeking both growth opportunity with stability combined in a single fund. On the other hand, UTI Nifty Midcap 150 Index Fund provides investors with exposure to the entire midcap gamut in a defined and focused way.”
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