UTI Infrastructure Advantage Fund

UTI Asset Mgmt Company Pvt. Ltd has launched a diversified equity fund which is a three year close-ended scheme with an investment objective to provide income stribution and /or medium to long term capital appreciation by investing predominantly in equity / equity related instruments in the companies engaged either directly or indirectly in the infrastructure growth of the Indian economy.

I am prety sure that this fund will invest in stocks like BHEL, L&T, GMR etc which are gaining tremendously in the recent spate of the gains that the infrastructure story is gaining in India. There is more and more emphasis on the infrastructure story in India and it is good that this is a closed ended fund so that the fund manager does not have to worry much about short term performance.

Scheme Details
Issue Opens: November 12, 2007
Issue Closes: December 19, 2007
Options : Dividend, Growth and Bonus
Fund Category: Closed-end, Equity Scheme
Minimum Investment: Rs 5000 and Rs 1 for additional purchases
Entry Load: Nil
Exit Load : Nil. However, an early exit charge equivalent to the unamortized NFO expenses will be recovered from the investor in case of redemption before the expiry of 3 years from the date of allotment