UTI Mutual Fund, will revise the category of four open-ended exchange traded funds and an open-ended equity fund to comply with the SEBI’s guidelines.

From April 2, UTI Nifty Exchange Traded Fund and UTI Nifty Next 50 Exchange Traded will be categorized as open-ended schemes that will track the Nifty 50 index, while UTI Sensex Exchange Traded Fund will classified an as an open ended scheme, which will track the S&P BSE Sensex.

The UTI-Long Term Equity Fund (Tax Saving), which is an open-ended equity scheme, will also be now classified as an open ended equity linked saving scheme with a statutory lock-in of three years, and tax benefit.

Furthermore, it has also altered the category and asset allocation of UTI Gold Exchange Traded Fund. The scheme will be classified as an open ended scheme, tracking gold and will invest 95-100% in gold bullion and gold related instruments and investments, against investments of 90-100% at present.

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