of a $2-billion deal involving the UK-based company acquiring a majority stake in the Vijay Mallya-led UB group firm. However, the deal is yet to be cleared by fair trade regulator CCI.
UTI Mutual Fund launches RGESS
UTI Mutual Fund has launched UTI Rajiv Gandhi Equity Saving Scheme, a close-ended scheme, targeting investment under the government-notified RGESS plan. The scheme opened for subscription on February 9 and will close on March 8. UTI-RGESS is a close-ended passive index fund tracking S&P CNX Nifty Index with a tenure of three years from the date of allotment. The investment objective of the scheme is to invest in stocks of companies comprising S&P CNX Nifty and aims to achieve return equivalent to Nifty by ‘passive’ investment.
Indiabulls MF launches income fund
Indiabulls Mutual Fund launched its second duration product, Indiabulls Income Fund, an open-ended debt scheme on Monday. The new fund offer (NFO) will open for subscription on February 12 and close on February 26. The fund will have regular investment options like growth and dividend, with a minimum subscription of R5,000.