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 NameOld CategoryNew NameNew Category
UTI – MIS Advantage PlanN.A.UTI Regular Savings FundConservative Hybrid Fund
UTI Balanced FundUTI-Balanced Fund is an open-ended balanced fund.UTI Hybrid Equity FundAn 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 FundAn open ended scheme investing in arbitrage opportunities
UTI-Children’s Career Balanced PlanNAUTI CCF- Savings PlanChildren’s Fund
UTI – CCP Advantage FundNAUTI CCF – Investment PlanChildren’s Fund
UTI G-Sec FundOpen-ended dedicated gilt fundUTI Overnight FundAn open ended debt scheme investing in overnight securities
UTI Liquid Cash PlanAn Open-ended Income SchemeUTI Liquid Cash PlanAn open ended liquid scheme
UTI Floating Rate FundAn Open-ended Income SchemeUTI Ultra Short Term FundAn 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 FundAn Open-ended Income SchemeUTI Treasury Advantage FundAn 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 FundAn Open-ended Money Market Mutual FundUTI Money Market FundAn open ended debt scheme investing in money market instruments
UTI Short Term Income FundAn Open-ended Income SchemeUTI Short Term Income FundAn 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 FundOpen ended income scheme with no assured returnsUTI Medium Term FundAn 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 FundOpen-ended debt fundUTI Bond FundAn 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 FundAn Open-ended Income SchemeUTI Dynamic Bond FundAn open ended dynamic debt scheme investing across duration
UTI Income Opportunities FundOpen-ended income scheme with no assured returnsUTI Credit Risk FundAn open ended debt scheme predominantly investing in AA and below rated corporate bonds
UTI Banking & PSU Debt FundAn Open-ended Income Scheme with no assured returnUTI Banking & PSU Debt FundAn 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 – LTPOpen-ended gilt schemeUTI Gilt FundAn open ended debt scheme investing in government securities across maturities

UTI Mutual Fund Mergers

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

UTI Mutual Funds Scheme Change

Scheme NameNew Scheme Type
UTI Equity FundMulti Cap Fund
UTI Mastershare Unit SchemeLarge Cap Fund
UTI Top 100 FundLarge & Mid Cap Fund
UTI Mid Cap FundMid Cap Fund
UTI Dividend Yield FundDividend Yield Fund
UTI Opportunities FundValue Fund
UTI India Lifestyle FundThematic Fund
UTI Infrastructure FundThematic Fund
UTI MNC FundThematic Fund
UTI Transportation & Logistics FundSector Fund
UTI Banking Sector FundSector Fund
UTI Nifty Index FundIndex 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. 

 

Mutual Fund Calculator

SIP CalculatorPPF CalculatorEMI Calculator
Lumpsum CalculatorPF CalculatorCar Loan EMI Calculator
Mutual Fund Return CalculatorGratuity CalculatorPersonal Loan EMI Calculator
SWP CalculatorHRA CalculatorHome Loan EMI Calculator
Sukanya Samriddhi Yojana CalculatorCAGR CalculatorSBI EMI Calculator
FD CalculatorGST CalculatorSBI Personal Loan EMI Calculator
RD CalculatorHDFC EMI CalculatorSBI Home Loan EMI Calculator
NPS CalculatorHDFC Personal Loan EMI CalculatorSBI PPF Calculator
Simple Interest CalculatorHDFC Home Loan EMI CalculatorSBI RD Calculator
Compound Interest CalculatorHDFC FD CalculatorSBI SIP Calculator
Interest Rate CalculatorHDFC RD CalculatorSBI FD Calculator