SCHEME CATEGORY STOCK CONCENTRATION RISK / REWARD POTENTIAL BENCHMARK Lower Risk Lower Reward Moderate Risk Moderate Reward Low Concentration (> 60 stocks) Moderate Concentration (40 - 60 stocks) Market Cap based Fund Style based Fund Thematic Fund ELSS UTI Transportation & Logistics Fund (An open ended equity scheme investing in transportation and logistics sector) S&P BSE 100 TRI S&P BSE 200 TRI This product is suitable for investors who are seeking*: • Long term capital appreciation • Investment predominantly in equity and equity related securities of the companies engaged in the transportation and logistics sector * Investors should consult their financial advisers if in doubt about whether the product is suitable for them
Landscape of Transportation & Logistics sector • Two-wheelers/ PV/ CV / MHCV • Auto Components: Engine Parts/ Body & Chassis / Electrical parts & others • Dedicated Freight Corridor (DFC) • Solid / Liquid & Container Cargo • Port Logistics Services • Public Private Partnership (PPP) • Express Logistics • Warehousing & Cold-storage Auto OEMs Railway Ports/ Shipping/ Shipyards Airports/ Airlines Courier & LogisticsCompanies Catering to Transportation & Logistics OEMs Original Equipment Manufacturer, PV Private Vehicles, CV Commercial Vehicles 2 Auto Ancillary
Drivers of Growth: Transportation & Logistics Sector
Product/ Services
Lights,
Clientele
Growth Opportunity
Ancillaries
Users
Shipping
Surface
Logistics
Service
3 Auto OEMs Auto
Surge in volume led by growing levels of penetration & upgradation Increase in average selling Price Regulatory changes Premiumisation Technological advancement Export potential Shifts from unorganized to organized markets Opportunities from Outsourcing Improving Infrastructure OEMs Original Equipment Manufacturer Two Wheelers Three Wheelers Passenger Vehicles Commercial Vehicles Tractors LED
Plastic Moldings, Electrics, Electronics Batteries, Mirrors Tyres, Airbags, Sensors Infotainment systems, Dealers End Users
OEMs Authorised Service Centers Dealers End
Manufacturers & Distributors Business
Providers Retailers Rail &
Air &
logistics Supply Chains Ports & Terminals
Passenger Vehicles (PV): Well-positioned for growth 4 With improving affordability, demand for high-end cars is relatively increasing, resulting in value as well as volume growth for the industry Source: Ambit Capital Private Limited Visible Trends: Premiumisation: Desire for high-end vehicles Improving Affordability: Cost of ownership going down; easy access to finance Low penetration: Volume is most likely at inflection point 1 2 3 4 5 6 7 8 9 10 10,000 50,000 90,000 1,30,000 1,70,000 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 India per capita GDP (Rs) Average price per car/ Per capita GDP (x) (RHS) 10% 15% 20% 25% 30% 35% 40% 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 New PV sales (mn) UV/PV in India (%) (RHS)
5 Expected improvement in trend on back of improved affordability and leverage from auto financing Source: Ambit Capital Private Limited Two-wheelers (2W): Increasing demand for high-end 2W & tapping of rural market Visible Trends: Premiumisation: Desire for high-end 2Ws Demand for Scooters (Unisex product) dropped; however has high preference -20% -15% -10% -5% 0% 5% 10% 15% 20% 25% 30% 5 8 10 13 15 18 20 23 25 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 2W domestic industry (mn) Growth (%) (RHS) 61% 61% 59% 54% 51% 48% 47% 49% 50% 52% 14% 12% 12% 13% 14% 15% 15% 15% 14% 15% 19% 21% 24% 28% 30% 32% 33% 32% 32% 30% 0% 20% 40% 60% 80% 100% 120% FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 Moped share 75-125cc MS share 125cc plus MC share Scooter share
(50) (40) (30) (20) (10) 0 10 20 30 40 50 50,000 1,00,000 1,50,000 2,00,000 2,50,000 3,00,000 3,50,000 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 Domestic goods M&HCV volume Goods M&HCV growth (%) (RHS) Medium and Heavy Commercial Vehicles (MHCV) 6 Economics favour up-gradation of older fleet, could possibly trigger higher demand for MHCV Source: Ambit Capital Private Limited Visible Trends: Increase in tonnage capacity of vehicles leading to cost economies Improving Infrastructure to aid in volume growth 5.5 6 6.5 7 7.5 8 8.5 1.5 2 2.5 3 3.5 4 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 Goods M&HCV population (mn units) Ton transported/truck/km/day (RHS)
Auto Ancillary: Growth potential reinforced by Innovation 7 Market growth to be led by expected demand growth in domestic market and expanding global reach Source: Ambit Capital Private Limited Visible Trends: Change in regulations to trigger demand for newer products Indigenisation of products to improve domestic demand and also increase exports Improved cost efficiency and access to newer technology to expand the market size 2.1 2.4 2.6 2.9 3.5 4.0 3.5 -15% -10% -5% 0% 5% 10% 15% 20% 1.5 2.0 2.5 3.0 3.5 4.0 FY14 FY15 FY16 FY17 FY18 FY19 FY20 India auto ancs market size (Rs tn) Growth YoY (RHS) 0.6 0.7 0.7 0.7 0.9 1.1 1.0 -5% 0% 5% 10% 15% 20% 25% 30% 0.5 0.6 0.7 0.8 0.9 1.0 1.1 FY14 FY15 FY16 FY17 FY18 FY19 FY20 Auto ancs exports (Rs tn) Growth YoY (RHS)
Logistics: Continued reforms including DFC to drive the growth
Structural Drivers
Dedicated Freight Corridor
Indian logistics sector at an inflection point
Higher aggregation of cargo to lead to scale benefits for transporters Consolidation of warehouses Fewer Tax incidence will drive focus towards turnaround time rather than freight cost arbitrage Possible shift from unorganized sector to organized sector Positive for domestic transportation focused players
Biggest rail freight capacity addition exercise ever done in history of India Road to Rail shift likely on WDFC route (Delhi – Mumbai) Higher movement of double stack containers leading to efficiency gains Huge impetus for container rail operators
8
Passenger Vehicle (PV) Market
― India's domestic PV market size is ~2.7 million units as of FY21; While the segment grew at a ~8.1% CAGR over FY09 to FY19, declined by~20% from a peak of FY19.
― Likely acceleration in growth led by lower penetration, improving affordability & increasing demand for higher-end cars.
Two Wheeler (2W) Market
― Domestic market grew by ~11% CAGR over FY 09 to FY19 before declining by ~29% in FY21 over FY19 and within which scooters grew by ~19% over FY 09 to FY19 before declining by ~33% in FY21 over FY19. Rural penetration per household is much lower than in Urban India.
― In the urban market, there is a likely shift in demand towards scooters & premium bikes, which accounts for 30% and 7% Sow respectively for FY21.
Auto Ancillary
―
Early adoption of new technology would lead growth & increase in export base.
― Edge over cost leadership and access to newer technology.
Change in regulation and indigenization of products to help in demand growth.
― Likely shift of unorganized players to organized market would lead to cost normalization.
― Growing aspirations to continue to lead growth and increase export base.
Logistics
― Outsourcing of non-core operation of logistics would bring larger opportunities for larger players.
― Improvement in infrastructure to further enable industry growth.
To summarise… 9
Product
Spectrum on Risk v/s Return Grid (Active Funds) 10 UTI LTEF (Tax Saving) UTI Long Term Equity Fund (Tax Saving); UTI B&FS Fund UTI Banking & Financial Services Fund; UTI T&L Fund UTI Transportation & Logistics Fund The above representation is only for understanding purpose, one should not constitute portfolio only based on the above and advised to approach their financial advisors based on the investors respective risk profile before making investment decisions. UTI Value Opportunities Fund UTI Mastershare Unit Scheme UTI LTEF (Tax Saving) UTI Flexi Cap Fund UTI Mid Cap Fund UTI Dividend Yield Fund UTI MNC Fund UTI Small Cap Fund UTI India Consumer Fund UTI T&L Fund UTI Healthcare Fund UTI B&FS Fund UTI Infrastructure Fund CORE ALLOCATION CORE SATELLITE ALLOCATION TACTICAL ALLOCATION RISK / STANDARD DEVIATION RETURN POTENTIAL UTI Core Equity Fund UTI Focused Equity Fund
Investment Strategy Focus on companies having substantial earning quality (high operating cash flows) Focus on good companies in a transient weak operational phase Consideration for growth-oriented companies having strong return ratios available at reasonable valuation 1 2 3 4 5 Bottom–Up Stock Picking Agnostic to market capitalization and would take concentrated exposure to certain stocks 11
UTI Transportation & Logistics Fund
of scheme
An open ended equity scheme
in transportation and logistics sector
Fund Facts
Investment Objective
The objective of the scheme is to generate long term capital appreciation by investing predominantly in equity and equity related securities of companies engaged in the transportation and logistics sector.
Fund Inception Fund Manager
April,
Sachin Trivedi, B.Com, MMS, CFA (Sep 2016)
Experience:
Years
Benchmark
there can be no assurance or guarantee that the investment objective of the scheme would be achieved.
Asset Allocation
Indicative Allocation
total assets)
Minimum Investment
and in multiples
Subsequent min. investment,
and in multiples of
Equity and equity related instruments
of the total assets
be in equity and equity related
of companies engaged in the transportation and logistics sector)
and Money Market instruments
securitized
issued
fund
invest
of
100 Medium to High
20 Low to Medium
Medium to High
securitized
–
investing
Type
` 5,000/
of ` 1/
` 1,000/
` 1/
However,
#The
may
up to 50%
its debt portfolio in
debt.
Instruments
(% of
Risk ProfileMinimum Allocation (%) Maximum Allocation (%)
(minimum 80%
would
instruments
80
Debt
including
debt# 0
Units
by REITs & InvITs 0 10
12 11th
2008
Total
20
UTI Transportation & Logistics TRI
Fund Size: Monthly Avg. AuM: ` 1,521 Crores Last Day AuM : ` 1,582 Crores No. of Unit Folios : 1,26,543 Fund Snapshot Fund Facts (contd.) 33 No. of Stocks 57.41% / 77.76% Top 5 / Top10 Stocks Fund BM Beta : 0.93 1.00 SD (3 Years) : 26.21% 27.87% PTR (Annual) : 17.00% Sharpe Ratio : 0.23OCF C1 : 76% C2 : 23% C3 : 1% ROCE R1 : 45% R2 : 36% R3 : 19% Portfolio Composition# Market Capitalisation (%) Fund BM Large : 70 79 Mid : 18 17 Small : 12 4 Quantitative Indicators Active Share : 21.53% UTI T&L TRIUTI T&L Fund 13 Price to Earnings Price to Book Return on Equity Avg. AuM – Average Asset under Management, SD – Standard Deviation, PTR – Portfolio Turnover Ratio, Market cap – Market Capitalisation, ROCE – Return on Capital Employed. # Operating Cash Flow Tiers (C) 3 Tiers based on the number of years in which they have generated positive operating cash flows in the previous 5 years (for manufacturing companies). RoCE/ Implied RoE Tiers (R) 3 Tiers based on the previous 5 year average return on capital (for manufacturing companies & non lending non banking finance companies (NBFCs)) & based on the previous 5 year average return on asset for banks & NBFCs (including housing finance companies). All data are as of March 31, 2022 3.74 4.08 31.50 36.76 5.78 5.90
Detailed Portfolio
STOCK NAME % to NAV Act. Wt %
MARUTI SUZUKI INDIA LTD. 17.63 0.39
TATA MOTORS LTD. 11.40 -2.57
MAHINDRA & MAHINDRA LTD. 10.84 3.00
BAJAJ AUTO LTD. 9.87 1.34
ADANI PORTS AND SPECIAL ECONO 7.67 2.30
EICHER MOTORS LTD 7.33 1.19
ASHOK LEYLAND LTD 5.32 2.30
HERO MOTOCORP LTD. 3.09 -2.25
BOSCH LTD. 2.50 0.29
CONTAINER CORP. OF INDIA LTD 2.11 1.19
APOLLO TYRES LTD. 1.96 0.81
BHARAT FORGE LTD. 1.86 1.36
VRL LOGISTICS LTD 1.70 1.70
MINDA CORPORATION LTD 1.48 1.48
MAHINDRA LOGISTICS LTD. 1.40 1.40
ESCORTS LTD. 1.33 0.84
SCHAEFFLER INDIA LTD 1.27 1.27
STOCK NAME % to NAV Act. Wt %
JAMNA AUTO INDUSTRIES LTD. 1.24 1.24
MAHINDRA & MAHINDRA FINANCIAL 1.16 1.16
SUNDRAM FASTENERS LTD. 1.14 1.14
MOTHERSON SUMI SYSTEMS LTD. 1.11 1.11
INTERGLOBE AVIATION LTD 0.98 -2.50
MOTHERSON SUMI WIRING INDIA LT 0.97 0.97
SUBROS LTD. 0.91 0.91
TVS MOTOR COMPANY LTD 0.90 0.90
TATA MOTORS DVR 0.78 0.78
MAHINDRA CIE AUTOMOTIVE LTD 0.53 0.53
MRF LTD. 0.43 1.99
SANDHAR TECHNOLOGIES LTD 0.41 0.41
ZOMATO LTD 0.25 0.25
RANE HOLDINGS LTD. 0.20 0.20
GUJARAT PIPAVAV PORT LTD. 0.14 0.14
GREAT EASTERN SHIPPING CO. LTD 0.07 0.58
shows Top
www.utimf.com
Portfolio above
20 equity holdings under the scheme, for detailed portfolio visit
Act. Wt % Active Weight % (as compared to the Benchmark Index UTI Transportation & Logistics Fund Index) Data as of March 31, 2022 14
Demand is expected to improve in the coming years in the M&HCV industry. Based on the study of past cycles in this category, recovery in demand should be sharp. The Fund has exposure to leading OEM players in India and has exposure through suppliers/ auto ancillaries which are expected to benefit from a potential uptick in demand.
Auto ancillaries are direct beneficiaries of improving domestic vehicle demand as well as beneficiaries of globalization and the Fund is well positioned to capitalise from the expected demand revival.
The Fund has an underweight position in the logistics space. The Fund continues to believe logistics players have a long runway for growth; however companies where valuation has run ahead of fundamentals, the Fund has reduced its position.
The Fund’s preference continues to remain with companies with strong balance sheet and high return ratios and also on those one’s which can deliver higher growth in cash flows over a longer period.
Portfolio Commentary
15 M&HCV Medium & Heavy Commercial Vehicles, OEM Original equipment manufacturer
Mar-09
Mar-10
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
Mar-16
Mar-17
Mar-19
Mar-20 Sep-20 Mar-21
Mar-22
One time investment of Rs. 10,000/ made at the time of launch of the Scheme i.e., April 11, 2008 Total Value of investment under UTI Transportation & Logistics Fund Rs. 87,959/ as against Rs. 57,994/ under UTI Transportation & Logistics TRI as on 31/03/2022 ` 10,000 Invested at Inception: UTI Transportation & Logistics Fund Vs UTI Transportation & Logistics Index Performance Track Record 16 ` 87,959/` 57,994/4,000 14,000 24,000 34,000 44,000 54,000 64,000 74,000 84,000 94,000 1,04,000 Sep-08
Sep-09
Sep-10
Sep-11
Sep-12
Sep-13
Sep-14
Sep-15
Sep-16
Sep-17 Mar-18 Sep-18
Sep-19
Sep-21
UTI Transportation & Logistics Fund UTI Transportation & Logistics Index
Performance Track Record (Contd.)
UTI
performance may or may not be sustained in
in the scheme/plan has been considered for
Different plans
have a
Annual Growth Rate (CAGR).
Performance of other open-ended schemes managed by the Fund Manager Mr. Sachin Trivedi
April 11th, 2008. Date of
performance details provided herein are of regular plan (growth option). Returns greater than 1 year period are
17 B Benchmark, AB Additional Benchmark, TRI Total Return Index Past
future.
shall
different expense structure. The
Compound
Inception of UTI Transportation & Logistics Fund :
allotment
inception date. The Scheme is currently managed by Mr. Sachin Trivedi since Sep 2016.
Transportation & Logistics Fund Performance Vs Benchmark as of 31/03/2022 Period Fund Performance Vs Benchmark Growth of ` 10,000/Scheme Returns (%) B: UTI T&L Index TRI (%) AB: Nifty 50 TRI (%) Scheme Returns (`) B: UTI T&L Index TRI (`) AB: Nifty 50 TRI (`) 1 Year 10.33 8.49 20.26 11,033 10,849 12,026 3 Years 9.90 11.26 15.86 13,277 13,777 15,559 5 Years 4.27 4.46 15.14 12,327 12,439 20,244 Since Inception 16.83 13.40 11.03 87,959 57,994 43,169 This product is suitable for investors who are seeking*: • Long term capital appreciation • Investment predominantly in equity and equity related securities of the companies engaged in the transportation and logistics sector * Investors should consult their financial advisers if in doubt about whether the product is suitable for them Fund –UTI Transportation & Logistics Fund #Risk o meter for the fund is based on the portfolio ending March 31, 2022. The Risk o meter of the fund/s is/are evaluated on monthly basis and any changes to Risk o meter are disclosed vide addendum on monthly basis, to view the latest addendum on Risk o meter, please visit addenda section on https://utimf.com/forms and downloads/ Benchmark –UTI Transportation & Logistics TRI
Scheme Inception Date Managing the Fund Since Benchmark 1 Year (%) 3 Years (%) 5 Years (%) Fund Benchmark Fund Benchmark Fund Benchmark UTI Infrastructure Fund 07 Apr 04 Sep 21 Nifty Infrastructure TRI 14.27 24.69 11.81 18.13 8.62 12.08 a. Mr. Sachin Trivedi manages 2 open ended schemes of UTI Mutual Fund. b. Period for which scheme’s performance has been provided is computed basis last day of the month end preceding the date of advertisement. c. Different plans shall have a different expense structure. The performance details provided herein are of Growth Option (Regular Plan).
Why Invest in UTI Transportation & Logistics Fund?
Suitable for:
The Fund predominantly invests in stocks of companies:
Principally engaged transportation & logistic sector
Companies engaged in the design, manufacture, distribution or sale of transportation component/ services
The growing income levels, increasing aspirations and also led by low vehicle penetration in India, relative to the similar economies is a signal for an uptick in the future demand and would be a positive factor for the sector.
The Fund would be agnostic to market capitalization spectrum and may take concentrated exposure to certain stocks.
The Fund with a differentiated portfolio exposure may complement diversified equity funds for considerable return generation.
Investors looking for a tactical allocation
willing to increase
in stocks of companies
logistics
sectoral philosophy
to their overall equity portfolio Investors
the risk spectrum of their portfolio with an exposure to a
of investing
catering to transportation and
sector 18
-
Name of the Scheme
UTI Mastershare Unit Scheme
(Large Cap Fund An open ended equity scheme predominantly investing in large cap stocks)
UTI Core Equity Fund
(Large & Mid Cap Fund An open ended equity scheme investing in both large cap and mid cap stocks)
UTI Mid Cap Fund
(Mid Cap Fund An open ended equity scheme predominantly investing in mid cap stocks)
UTI Value Opportunities Fund
(An open ended equity scheme following a value investment strategy)
UTI Flexi Cap Fund
(Flexi Cap Fund An open ended dynamic equity scheme investing across large cap, mid cap, small cap stocks)
UTI Small Cap Fund
Small Cap Fund An open ended equity scheme predominantly investing in small cap stocks
UTI Dividend Yield Fund
(An open ended equity scheme predominantly investing in dividend yielding stocks)
UTI Focused Equity Fund
(Focused Fund- An open ended equity scheme investing in maximum 30 stocks across market caps)
This product is suitable for investors who are seeking* Riskometer
• Long term capital appreciation
• Investment predominantly in equity instruments of large cap companies
• Long term capital appreciation
• Investment predominantly in equity instruments of both large cap and mid cap companies
• Long term capital appreciation
• Investment predominantly in mid cap companies
• Long term capital appreciation
• Investment in equity instruments following a value investment strategy across the market capitalization spectrum
• Long term capital appreciation
• Investment in equity instruments of companies with good growth prospects across the market capitalization spectrum
• Long term capital appreciation
• Investment predominantly in equity and equity related securities of small cap companies
• Long term capital appreciation
• Investment predominantly in dividend yielding equity and equity related securities
• Long term capital growth
• Investment in equity and equity related securities across market capitalisation in maximum 30 stocks
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
Product Label #Risk o meter for the fund is based on the portfolio ending March 31, 2022. The Risk o meter of the fund/s is/are evaluated on monthly basis and any changes to Risk-o-meter are disclosed vide addendum on monthly basis, to view the latest addendum on Risk-o-meter, please visit addenda section on https://utimf.com/forms and downloads/
Name of the Scheme
UTI Infrastructure Fund
(An open ended equity scheme following the Infrastructure theme)
UTI MNC Fund
(An open ended equity following the theme of investing predominantly in equity and equity related securities of Multi National Companies)
UTI India Consumer Fund
(An open ended equity scheme following the theme of changing consumer aspirations, changing lifestyle and growth of consumption)
UTI Banking and Financial Services Fund
(An open ended equity scheme investing in Banking and Financial Services Sector)
UTI Healthcare Fund
(An open ended equity scheme investing in the Healthcare Services Sector)
UTI Transportation and Logistics Fund
(An open ended equity scheme investing in transportation and logistics sector)
UTI Long Term Equity Fund (Tax Saving)
(An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit)
Product Label
This product is suitable for investors who are seeking* Riskometer
• Long term capital appreciation
• Investment predominantly in equity and equity related securities of companies forming part of the infrastructure sector
• Long term capital appreciation
• Investment predominantly in equity and equity related securities of Multi-National companies
• Long term capital growth
• Investment in equity instruments of companies that are expected to benefit from of the changing consumer aspirations, changing lifestyle and growth of consumption
• Long term capital appreciation
• Investment predominantly in equity and equity related securities of companies engaged in banking and financial services activities.
• Long term capital appreciation
• Investment predominantly in equity and equity related securities in the Healthcare Services sector.
• Long term capital appreciation
• Investment predominantly in equity and equity related securities of the companies engaged in the transportation and logistics sector
• Long term capital growth
• Investment in equity instruments of companies that are believed to have growth potential
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
#Risk o meter for the fund is based on the portfolio ending March 31, 2022. The Risk o meter of the fund/s is/are evaluated on monthly basis and any changes to Risk o meter are disclosed vide addendum on monthly basis, to view the latest addendum on Risk o meter, please visit addenda section on https://utimf.com/forms and downloads/
Thank You
The information contained in this document is for general purposes only and is not an offer to sell or a solicitation to buy/ sell any mutual fund units / securities. The information / data here in alone are not sufficient and should not be used for the development or implementation of an investment strategy. The same should not be construed as investment advice to any party.
REGISTERED OFFICE: UTI Tower, ‘Gn’ Block, Bandra Kurla Complex, Bandra (E), Mumbai 400051. Phone: 022 66786666. UTI Asset Management Company Ltd (Investment Manager for UTI Mutual Fund) Email: invest@uti.co.in. (CIN-L65991MH2002PLC137867). For more information, please contact the nearest UTI Financial Centre or your AMFI/NISM certified Mutual Fund Distributor (MFD) for a copy of the Statement of Additional Information, Scheme Information Document and Key Information Memorandum cum Application Form.
Disclaimers: The information on this document is provided for information purposes only. It does not constitute any offer, recommendation or solicitation to any person to enter into any transaction or adopt any hedging, trading or investment strategy, nor does it constitute any prediction of likely future movements in rates or prices or any representation that any such future movements will not exceed those shown in any illustration. Users of this document should seek advice regarding the appropriateness of investing in any securities, financial instruments or investment strategies referred to on this document and should understand that statements regarding future prospects may not be realized. The recipient of this material is solely responsible for any action taken based on this material. Opinions, projections and estimates are subject to change without notice.
UTI AMC Ltd is not an investment adviser, and is not purporting to provide you with investment, legal or tax advice. UTI AMC Ltd or UTI Mutual Fund (acting through UTI Trustee Company Pvt. Ltd) accepts no liability and will not be liable for any loss or damage arising directly or indirectly (including special, incidental or consequential loss or damage) from your use of this document, howsoever arising, and including any loss, damage or expense arising from, but not limited to, any defect, error, imperfection, fault, mistake or inaccuracy with this document, its contents or associated services, or due to any unavailability of the document or any part thereof or any contents or associated services.
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