UTI Mutual Fund Name & Category Changes: What Investors Need to Know

UTI Mutual Fund Company is changing the names and category of some of its mutual funds. Mutual fund schemes of many mutual funds are being changed after a recent circular by SEBI. This move by SEBI aims to make investing simpler for investors

The new rule states that every mutual fund company can only have one mutual fund offering under each category.

UTI Mutual Fund Name and Category Change

Old Name Old Category New Name New Category UTI – MIS Advantage Plan N.A. UTI Regular Savings Fund Conservative Hybrid Fund UTI Balanced Fund UTI-Balanced Fund is an open-ended balanced fund. UTI Hybrid Equity Fund An open ended hybrid scheme investing predominantly in equity & equity related instruments. UTI SPrEAD Fund(UTI – Spread between Prices of Equity And Derivative Fund) An open-ended equity fund investing in a mix of equity, equity derivatives, debt and money market instruments. UTI Arbitrage Fund An open ended scheme investing in arbitrage opportunities UTI-Children’s Career Balanced Plan NA UTI CCF- Savings Plan Children’s Fund UTI – CCP Advantage Fund NA UTI CCF – Investment Plan Children’s Fund UTI G-Sec Fund Open-ended dedicated gilt fund UTI Overnight Fund An open ended debt scheme investing in overnight securities UTI Liquid Cash Plan An Open-ended Income Scheme UTI Liquid Cash Plan An open ended liquid scheme UTI Floating Rate Fund An Open-ended Income Scheme UTI Ultra Short Term Fund An open ended ultra-short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 months and 6 months (Please refer to page no.___ for concept of Macaulay duration) UTI Treasury Advantage Fund An Open-ended Income Scheme UTI Treasury Advantage Fund An open ended low duration debt scheme investing in instruments such that the Macaulay duration of the portfolios is between 6 months and 12 months UTI Money Market Fund An Open-ended Money Market Mutual Fund UTI Money Market Fund An open ended debt scheme investing in money market instruments UTI Short Term Income Fund An Open-ended Income Scheme UTI Short Term Income Fund An Open ended Short Term Debt Scheme investing in instruments such that the Macaulay duration of portfolio is between 1 year and 3 years UTI Medium Term Fund Open ended income scheme with no assured returns UTI Medium Term Fund An open ended medium term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 years and 4 years UTI Bond Fund Open-ended debt fund UTI Bond Fund An open ended medium term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 4 years and 7 years UTI Dynamic Bond Fund An Open-ended Income Scheme UTI Dynamic Bond Fund An open ended dynamic debt scheme investing across duration UTI Income Opportunities Fund Open-ended income scheme with no assured returns UTI Credit Risk Fund An open ended debt scheme predominantly investing in AA and below rated corporate bonds UTI Banking & PSU Debt Fund An Open-ended Income Scheme with no assured return UTI Banking & PSU Debt Fund An open ended debt scheme predominantly investing in debt instruments of Banks, Public Sector Undertakings and Public Financial Institutions and Municipal Bonds UTI Gilt Advantage Fund – LTP Open-ended gilt scheme UTI Gilt Fund An open ended debt scheme investing in government securities across maturities

UTI Mutual Fund Mergers

Old Fund 1 Old Fund 2 Old Fund 3 Merged Fund Name UTI Monthly Income Scheme UTI Smart Woman Savings Plan UTI – Unit Scheme for Charitable & Religious Trusts & Registered Societies (UTI – C.R.T.S.) UTI-MIS Advantage Plan.

UTI Mutual Funds Scheme Change

Scheme Name New Scheme Type UTI Equity Fund Multi Cap Fund UTI Mastershare Unit Scheme Large Cap Fund UTI Top 100 Fund Large & Mid Cap Fund UTI Mid Cap Fund Mid Cap Fund UTI Dividend Yield Fund Dividend Yield Fund UTI Opportunities Fund Value Fund UTI India Lifestyle Fund Thematic Fund UTI Infrastructure Fund Thematic Fund UTI MNC Fund Thematic Fund UTI Transportation & Logistics Fund Sector Fund UTI Banking Sector Fund Sector Fund UTI Nifty Index Fund Index Fund

 

UTI Mutual Fund Names Changed: What to Do?

If Mutual Fund Name & Category Has Changed

If there is a category change, you might have to change your strategy of investment. These drastic changes are largely in equity mutual funds. Debt funds category names have changed too but there isn’t much difference in their investment style.

If you are confused, contact your mutual fund advisor for guidance on this issue.

If Mutual Funds Are Being Merged

If mutual funds are being, you need not worry as the mutual fund company will take care of the merger. Since in the above mergers, there is no real category change, you do not need to make any changes to your investment strategy.

If Only Mutual Fund Name Has Changed

If only the name of the mutual fund has changed, then there is no need to worry or do anything. You can simply continue investing as you already were.

Why are UTI Mutual Fund Names and Categories Changing?

There are several mutual funds offered by various mutual fund companies. Many of these are in effect duplicates of each other. Further, they also have names that might confuse and intimidate a new investor.

Keeping this in mind, SEBI has decided to recategorize mutual funds and schemes. It has also mandated that each mutual fund company can only have one mutual fund under each category.

Thus, all mutual fund companies are renaming, recategorizing, and merging mutual funds to comply with this circular by SEBI.

To see the best mutual funds to invest from every category, see: The 30 Best Mutual Funds to Invest in 2018 – Groww 30.

Happy investing!

Disclaimer: the views expressed here are of the author and do not reflect those of Groww. 

 

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