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Technology has fairly improved the world. Today, you need not to stand in long queues for buying railway tickets, or need not to prowl into the market for shopping your favourite clothes, as these tasks can be done efficiently and easily through your smartphones or laptop. The technological reforms have also revolutionised the system of mutual fund investing. A decade ago, investment meant spending hours with the investment consultant to draw a good plan, and then paying him a wad of money for his services.
But today, you have the liberty to invest in top funds such as UTI Mid Cap Fund, without paying anything beyond the cost of buying the stake in it. And this has been made possible by MySIPonline. This homemade Indian startup has stormed the mutual fund industry by providing eminent financial services and top recommendations on investment, for no cost at all. Given down below is the latest account of UTI Midcap created by the assistant team of MySIPonline. Read and find out if there's something for you in the bag!
The Preface
UTI Mid Cap is an equity-oriented mid-cap fund that was released in the Indian market way back in 2004. The fund is counted amongst the best mid-cap funds to currently invest in India. Its primary objective is to invest in a portfolio comprising of high end mid cap stocks of potential companies, in order to achieve enormous wealth till maturity. The fund has a fair size of assets under its management that were recorded at a mighty value of Rs. 3, 884 crore on 30th June, 2018.
The Growth and Returns
The UTI Midcap NAV recently witnessed a hike in its value to the tune of 1.85%. This indicates that the value of the underlying stocks of the fund has shot up and there are good chances of future growth for the fund. The NAV of UTI Midcap Fund G as recorded on 17th July, 2018 was Rs. 103.2158. Also, the fund has been able to clamber the rungs of growth at a much faster pace than the benchmark, and now stands at a fair distance ahead with returns amounting to 25.90% against 24.11% returns of the benchmark, NIFTY Midcap 150 TRI.
The Precaution
No doubt, UTI Midcap Fund is a favourable and well rewarding option in the market today. But, beware that there are no free lunches in the realm of mutual funds. For earning high, you ought to sit tight for a while with your investments and resist every urge of an early back out. This is because if you choose to make a premature redemption from the fund before the expiry of 364 days, then you’ll be penalised at the rate of 1% on the redemption value. Not only this, you’d have hampered the progress of the fund by withdrawing early, since a proper growth demands at least 3-5 years of investment horizon. So, it is advised that if you are planning an investment in UTI Midcap, then you ought to draw a plan for the required time period which in this case is anywhere between 3-5 years.
Advantages of Investing with MySIPonline
Paperless Investment : Understanding the pain involved in paper formalities and giving due attention to the environmental side-effects of excessive paper use, MySIPonline has come up with a paperless investment mode which allows you to make your investment online in a jiffy.
Best Funds at A Glance : There is a horde of the best performing funds listed on MySIPonline, which are regularly updated to ensure the investors get only the best deal on their investment.
Free of Cost Services : The formalities involved in making investments are humungous. Hence, to streamline the process and make it as fast as possible for the investors to commence investing, MySIPonline provides a free online portal to invest in the funds of their choice.
Investing in UTI Midcap Fund via an SIP Plan through MySIPonline can certainly add value to your investment prospects. Call your financial advisor today and ask him how to include this fund in your plan.