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UTI Mutual Fund (MF) has launched UTI Nifty Midcap 150 Quality 50 Index Fund, an open-ended scheme replicating/tracking Nifty Midcap 150 Quality 50 TRI. The NFO opens for subscription on March 28, 2022 and closes on April 05, 2022. The Entry load and Exit load is nil for the scheme. The minimum subscription amount is Rs 5,000 and in multiples of Rs 1 thereafter.

The performance of the scheme will be benchmarked against Nifty Midcap150 Quality 50 TRI and its fund manager is Sharwan Kumar Goyal.

The investment objective of the scheme is to provide returns that, before expenses, closely correspond to the total returns of the securities as represented by the underlying index, subject to tracking error.