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UTI Mutual opens account

Mumbai, June 19: UTI Mutual Fund, set up in February this year, made its debut in the market today with the launch of UTI Liquid Fund scheme. The scheme will offer short-term investment avenue to companies and high net worth individuals.

UTI officials expect to garner about Rs 500 crore through this scheme.

The mutual fund will soon launch three more schemes which will cater to various category of investors.

The liquid fund will offer an opportunity to investors to park funds for the short term with a view to generate steady and reasonable income, with low risk and high level of liquidity from a portfolio of money market securities and high quality debt.

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