UTI MF expands scope of its petro fund
To ride on the booming energy demand in the economy, UTI Mutual Fund has expanded the scope of its existing UTI-GSF-Petro fund to invest in the entire energy sector companies instead of just petro firms.
By PTI |
NEW DELHI: To ride on the booming energy demand in the economy, UTI Mutual Fund has expanded the scope of its existing UTI-GSF-Petro fund to invest in the entire energy sector companies instead of just petro firms.
The company has also rechristened the scheme as UTI Energy Fund.
"The investment objective of UTI-GSF-Petro was to invest in petro sector companies which constitute only a part of the overall energy sector. The investment objective of UTI Energy Fund will cover the entire energy sector to capitalise on the emerging opportunities across the sector," the company said in a statement here.
In addition to investing in stocks in the oil and gas sector covering companies engaged in drilling, exploration, refining of crude oil and distribution, UTI Energy Fund would also invest in power generation firms and equipment manufacturers for the sector.
UTI AMC Chief Marketing Officer Jaideep Bhattacharya said, "In recent times, India has been witnessing a huge growth in energy demand in line with the unprecedented boom across sectors. UTI Energy Fund offers an opportunity to investors to ride on this energy demand and grow their investment."
The company has also rechristened the scheme as UTI Energy Fund.
"The investment objective of UTI-GSF-Petro was to invest in petro sector companies which constitute only a part of the overall energy sector. The investment objective of UTI Energy Fund will cover the entire energy sector to capitalise on the emerging opportunities across the sector," the company said in a statement here.
In addition to investing in stocks in the oil and gas sector covering companies engaged in drilling, exploration, refining of crude oil and distribution, UTI Energy Fund would also invest in power generation firms and equipment manufacturers for the sector.
UTI AMC Chief Marketing Officer Jaideep Bhattacharya said, "In recent times, India has been witnessing a huge growth in energy demand in line with the unprecedented boom across sectors. UTI Energy Fund offers an opportunity to investors to ride on this energy demand and grow their investment."
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