UTI MF launches open ended debt scheme for women

The UTI Mutual Fund said it has launched an open-ended debt oriented scheme Smart Woman Savings Plan for lady investors.
The objective of the scheme is to invest in a portfolio of equity/equity related securities and debt and money market instruments with a view to generate reasonable income with moderate capital appreciation, a company statement said.
The scheme is available for women investors above the age of 18. The scheme provides a unique investment opportunity to invest for themselves or an adult person can invest as an alternate applicant for the benefit of a mentally handicapped adult female, it added.

The scheme encourages disciplined systematic investment over one's working life and facilitates in periodic withdrawal thus enabling regular cash flow for women investors.
The scheme also enables conservative female investors to invest small proportion into equity with moderate risk.
The scheme provides a steady asset allocation route for debt and equity exposure from a long term perspective. The debt portfolio brings in a stability factor while equity provides a scope for growth.