UTI Mutual Fund eyes Rs 500-crore AUM in Woman Savings Plan

UTI Mutual Fund is looking at achieving assets under management of Rs 500 crore in Woman Savings Plan from Rs 200 crore at present within the next one year, a senior company official said today.
Moreover, the company plans to increase the number of folios under the scheme to around 50,000 from 21,000 now, over the next one year, he added.
The plan is an open-ended debt-oriented scheme meant for women 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.

"The scheme was being offered by us for the past 16 years and it achieved an AUM of Rs 200 crore as on January 31. However, we relaunched the product on March 6," UTI AMC products head R Raja told PTI today.
"We plan to increase the AUM of Smart Woman Savings Plan to Rs 500 crore in one year's time," he said.
Similarly, the company is looking at increasing the number of folios under the scheme to around 50,000 from 21,000 at present, within next one year, he added.
According to Raja, the scheme has given an annual return of 12.6 per cent.