UTI MF's focussed equity fund garners more than Rs 770 crore

MUMBAI: UTI Mutual Fund today said its 'Focussed Equity Fund - Series I' closed with an overwhelming response and garnered more than Rs 770 crore.

"UTI's Focussed Equity Fund - Series I (1,100 days) received an overwhelming response from investors during the NFO period of August 13-27. The scheme has attracted more than 67,000 applications and garnered over Rs 770 crore," UTI MF said in a statement today.

UTI MF managing director Leo Puri said, "The excellent mobilisation is a reflection of the continued trust reposed by the investors in UTI's fund management capabilities".

UTI MF's Sales and Marketing President Suraj Kaeley said, "With this fund, we have set a new benchmark in close-ended equity funds. It also signals the revival of the interest of retail investors in the equity market."

The Focused Equity Fund - Series I is a 1,100-day close-ended equity oriented scheme. The scheme would be invested in a compact portfolio of up to 30 securities.