UTI is a pioneer in Investment and Wealth Management Services. It pioneered the concept of Mutual Fund in India in 1968, and has grown to be one of country’s leading Asset Management Companies.
UTI Flexi Cap Fund is a diversified equity fund which seeks to generate returns over the medium-term for investors by investing predominantly in stocks and equity related instruments on behalf of its investors.
UTI Equity Fund was a diversified equity fund which sought to generate returns over the medium-term for investors by investing predominantly in stocks and equities related instruments on behalf of its investors.
UTI Asset Management created UTI Flexi Cap Fund on September 16, 2017 in order to capture the liquidity market.
The fund contains a mix of debt and equity securities, which is a change from UTI Equity Fund. This fund has a higher allocation to equities than its predecessor. The Investment Manager of the fund hopes that this will help it capitalize on the expected upside from equity markets
As per SEBI norms, UTI Equity Fund has been renamed as UTI Flexi Cap Fund.
UTI Asset Management has renamed its stock fund as UTI Flexi Cap Fund. The fund will now invest in equity and equity-related instruments of both Indian and overseas companies.
The change was made to comply with SEBI’s new norms for investment funds that mandate them to offer a mix of equity, debt and hybrid products or open-ended schemes with a minimum 50% allocation to equities from 1 April 2018.