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