September 15, 2023
mayank
UTI Innovation Fund NFO, Fund details, Fund Portfolio, Fund Returns, Peer Comparison, Mutual Fund Guidance @chanakyamfguidance
NFO opens on September 25, 2023
NFO will close on October 09, 2023
(Our detailed Guidance is given at the bottom of the Page)
Investment Strategy of UTI Innovation Fund NFO
The scheme seeks to provide medium to long-term capital appreciation through investment primarily in growth and innovation-oriented equity and equity-related instruments.
Basic Details
| Fund House | UTI Mutual Fund |
| Issue Open | 25 September 2023 |
| Issue Close | 09 October 2023 |
| Type | Open-ended |
| Category | Equity: Thematic |
| Min. Investment(Rs) | 5,000 |
| Plans | Growth, IDCW |
| Lock-in Period | NA |
| Exit Load | 1% for redemption Within 12 months |
| Riskometer | Very High |
| Benchmark | NIFTY 500 TRI |
Benchmark Index of UTI Innovation Fund NFO
The Nifty 500 index represents top 500 companies selected based on full market capitalization from the eligible universe.
Nifty 500 Index is computed using free float market capitalization method, wherein the level of the index reflects the total free float market value of all the stocks in the index relative to particular base period. Nifty 500 can be used for a variety of purposes such as benchmarking fund portfolios, launching of index funds, ETFs and structured products.
Index Variants: Nifty 500 Total Returns Index, Nifty500 Industry Indices.
Past Performance of Benchmark Index
| Index Returns (%) | QTD | YTD | 1 Year | 5 Years | Since Inception |
| Price Return | 3.01 | 9.55 | 10.44 | 11.11 | 10.37 |
| Total Return | 3.30 | 10.37 | 11.42 | 12.34 | 12.10 |
| Statistics ## | 1 Year | 5 Years | Since Inception |
| Std. Deviation * | 10.82 | 18.67 | 22.58 |
| Beta (NIFTY 50) | 0.95 | 0.95 | 0.93 |
| Correlation (NIFTY 50) | 0.97 | 0.99 | 0.95 |
Fundamentals
| P/E | P/B | Dividend Yield |
| 23.07 | 4.22 | 1.3 |
Top constituents by weightage
| Company’s Name | Weight(%) |
| HDFC Bank Ltd. | 8.81 |
| Reliance Industries Ltd. | 6.12 |
| ICICI Bank Ltd. | 5.04 |
| Infosys Ltd. | 3.85 |
| ITC Ltd. | 2.91 |
| Tata Consultancy Services Ltd. | 2.58 |
| Larsen & Toubro Ltd. | 2.45 |
| Axis Bank Ltd. | 2.00 |
| Kotak Mahindra Bank Ltd. | 1.94 |
| Hindustan Unilever Ltd. | 1.68 |
Fund Manager of UTI Innovation Fund NFO
1) Ankit Agarwal
Education: Mr. Agarwal has done B. Tech. Computer Science and Engg., Economics Management, PGDM Finance.
Experience: Prior to joining UTI Mutual Fund he has worked with Centrum Capital Ltd as Senior Vice President – Fund Manager, Wealth and Investment Management at Barclays as Asst Vice President, Lehman Brothers, London as Senior analyst, BNP Paribas and D. E. Shaw & Co..
Past Performance of his Schemes
| Fund | UTI Small Cap Fund | It’s Benchmark | UTI Mid Cap Fund | It’s Benchmark |
| 1 Year | 19.27 | 27.84 | 16.94 | 24.52 |
| 3 Year | — | — | 27.90 | 32.52 |
| 5 Year | — | — | 17.04 | 17.79 |
| 7 Year | — | — | 14.25 | 17.63 |
| 10 Year | — | — | 22.03 | 22.14 |
AMC:
UTI Asset Management Company Ltd
Address: UTI Tower, Plot C-1, GN Block, Banrda Kurla Complex, Bandra (East) Mumbai – 400051
Website: http://www.utimf.com
Registrar & Transfer Agent of UTI Innovation Fund NFO
KFin Technologies Ltd.
Address: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad – 500016
Website: www.karvymfs.com
Guidance for UTI Innovation Fund NFO by Paresh Gordhandas, C.A., Research Analyst.
As we have said earlier, Fund Houses are now trying to sell old wine in new bottle. There is no clarity in what it means by innovation. And the benchmark comprises of a wide spectrum of companies. The top constituents of this fund will be the major large cap companies like HDFC Bank, Reliance Industries, ICICI Bank , L&T etc. Hence, these are not new companies with a path breaking product line or service.
This fund can be compared to the ICICI Prudential Innovation Fund which was launched in April 2023. The ICICI Prudential Innovation Fund has given return of 20% since its launch. But it is important to note that the track record is short and the broader markets have performed outstandingly well in the meantime.
Talking about the fund manager, if we take a look at the past performance of Mr. Ankit Agarwal for the other schemes managed by him, it is not very exemplary.
Also, UTI schemes do not have large AUMs. One can avoid this fund due to better options available in the market.
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