Mumbai, Sept. 11 (PTI): Troubled Unit Trust of India will launch an open-ended debt oriented scheme tomorrow, almost after a gap of 18 months, seeking to distribute income periodically.
“The no-assured returns scheme would remain open for subscription up to October 11 and we expect most of the investments to come in the last ten days,” UTI president and spokesperson Madhav Kumar said here today.
The Sebi-approved scheme would invest a minimum 90 per cent of corpus in debt. At least 90 per cent would be deployed in paper carrying credit rating of AA and above. Balance 10 per cent would be invested in equities especially those represented in BSE 30, BSE 100, NSE’s S&P Nifty and Nifty Junior, he said.