UTI MF's focussed equity fund garners Rs 900 cr

UTI Mutual Fund today said its 'Focussed Equity Fund - Series II' closed with an overwhelming response and garnered around Rs 900 crore.
"UTI Focussed Equity Fund-Series II (1,102 days) has received an overwhelming response from investors during the e new fund offer (NFO) period from December 4 to 18," UTI MF said in a statement.
The scheme has garnered a gross mobilisation of around Rs 900 crore from around 76,000 applications.
"This NFO has attracted a number of retail investors. More than 60 per cent of the funds collected under the NFO are from B15 locations. This initiative has helped broaden the appeal of UTI and the mutual fund industry to the retail investors especially in the smaller centres beyond the Top 15 cities," UTI MF Managing Director Leo Puri said.

"This also indicates that there is a large untapped potential in the B15 towns for the Mutual Fund Industry," he added.
UTI- Focussed Equity Fund Series II is an 1102-day close ended equity oriented scheme. The scheme would be investing in a compact portfolio of up to 30 securities.