Mumbai (Maharashtra) [India], December 24 (ANI): UTI Small Cap Fund got more than 86,000 applications garnering more than Rs 920 crore from investors during its new fund offer (NFO) from December 2 to 16.
The fund plans to invest in companies that have scalable business models and are run by seasoned management.
The objective of the scheme is to generate long-term capital appreciation by investing predominantly in equity and equity-related securities of small cap companies.
"The excellent mobilisation in NFO of UTI Small Cap Fund is a reflection of the continued trust reposed by investors in UTI Mutual Fund, its fund management capabilities, and in its robust systems and processes," said Imtaiyazur Rahman, Chief Executive Officer of UTI Asset Management Company (UTI AMC).
UTI AMC is a SEBI registered portfolio manager and offers discretionary, non-discretionary and advisory services to high net worth clients, corporates and institutions. (ANI)