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SCHEME INFORMATION DOCUMENTUTI MONEY MARKET FUND(An open ended debt scheme investing in money market instruments)This product is suitable for investors who are seeking*: Reasonable income with high level of liquidity over short-termInvestment in money market securitiesRISKOMETER* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.UTI Mutual FundUTI Asset Management Company LimitedUTI Trustee Company Private LimitedAddress of the Mutual Fund, AMC and Trustee Company:UTI Tower, Gn Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051. Website: www.utimf.comThe particulars of the Scheme have been prepared in accordance with the Securities and ExchangeBoard of India (Mutual Funds) Regulations 1996, (herein after referred to as SEBI (MF) Regulations) asamended till date, and filed with SEBI, along with a Due Diligence Certificate from the AMC. The unitsbeing offered for public subscription have not been approved or recommended by SEBI nor has SEBIcertified the accuracy or adequacy of the Scheme Information Document (SID).The Scheme Information Document sets forth concisely the information about the scheme that a prospectiveinvestor ought to know before investing. Before investing, investors should also ascertain about any furtherchanges to this Scheme Information Document after the date of this Document from the Mutual Fund / UTIFinancial Centers (UFCs) / Website / Distributors or Brokers.The investors are advised to refer to the Statement of Additional Information (SAI) for details of UTIMutual Fund, Tax and Legal issues and general information on www.utimf.comSAI is incorporated by reference (is legally a part of the Scheme Information Document). For a freecopy of the current SAI, please contact your nearest UTI Financial Centre or log on to our website.The Scheme Information Document should be read in conjunction with the SAI and not in isolation.This Scheme Information Document is dated May 14, 2018.

UTI MMF SID 2018TABLE OF CONTENTSItem No.3A.B.C.D.INTRODUCTIONRisk FactorsRequirement of minimum investors in the SchemeDefinitionsDue Diligence by the Asset Management Company48812A.B.C.D.E.F.G.H.I.J.K.INFORMATION ABOUT THE SCHEMEType of the SchemeWhat is the investment objective of the Scheme?How will the Scheme allocate its assets?Where will the Scheme invest?What are the Investment Strategies?Fundamental AttributesHow will the Scheme Benchmark its performance?Who manages the scheme?What are the Investment Restrictions?How has the Scheme performed?Additional Scheme related disclosures1313131324242525263030II.IV.Page No.HIGHLIGHTSI.III.ContentsUNITS AND OFFERA. Ongoing Offer DetailsB. Periodic DisclosuresC. Computation of NAV315762FEES AND EXPENSESA. Annual Scheme Recurring ExpensesB. Load Structure for all classes of investors6365V.RIGHTS OF UNITHOLDERS68VI.PENALTIES, PENDING LITIGATION ORPROCEEDINGS, FINDINGS OF INSPECTIONSOR INVESTIGATIONS FOR WHICH ACTIONMAY HAVE BEEN TAKEN OR IS IN THEPROCESS OF BEING TAKEN BY ANYREGULATORY AUTHORITY682

UTI MMF SID 2018HIGHLIGHTSCategorySchemeof Money Market FundThe investment objective of the scheme is to generate reasonable income with highlevel of liquidity by investing in a portfolio of money market et Asset er there can be no assurance that the investment objective of the Scheme willbe achieved. The Scheme does not guarantee / indicate any returns.The scheme will offer subscription of units on every business day on an ongoingbasis. Under UTI Money Market Fund UTI AMC reserves the right to limit theamount that it would accept from a single investor on any business day. Redemptionswill be open throughout the year without any lock-in-period subject to restrictions, ifany, as stated in the SID. However, no redemption will be allowed during the bookclosure period/s, if any, that may be announced by UTI AMC.CRISIL Money Market IndexNAV will be declared on every business dayEntry Load : NilExit Load : NilMinimum amount of initial investmentof 10,000/- and in multiples of 1 under both the Plans.Subsequent minimum investment amount in the same folio 1000/- and in multiples of 1/- thereafter.3

UTI MMF SID 2018I. INTRODUCTIONA. RISK FACTORSStandard Risk Factors:1. Investment in Mutual Fund Units involves investment risks such as trading volumes, settlement risk,liquidity risk, default risk including the possible loss of principal.2. As the price / value / interest rates of the securities in which the scheme invests fluctuates, the valueof your investment in the scheme may go up or down.3. Past performance of the Sponsor/AMC/Mutual Fund does not guarantee future performance of thescheme.4. UTI-Money Market Fund is only the name of the scheme and does not in any manner indicate eitherthe quality of the scheme or its future prospects or returns. There may be instances where no dividenddistribution could be made.5. The sponsors are not responsible or liable for any loss resulting from the operation of the schemebeyond the initial contribution of 10,000/- made by them towards setting up the Fund.6. The present scheme is not guaranteed or assured return scheme.7. Statements/Observations made are subject to the laws of the land as they exist at any relevant point oftime.8. Growth, appreciation, dividend and income, if any, referred to in this scheme information documentare subject to the tax laws and other fiscal enactments as they exist from time to time.9. Investments in units issued under the scheme is subject to market risks. There is no assurance that thescheme/plans will maintain stable net asset values.10. Risks associated with Investing in Bonds:a) Credit Risk: Bonds / debentures as well as other money market instruments issued by corporatesrun the risk of down grading by the rating agencies and even default as the worst case. Securitiesissued by Central government have lesser to zero probability of credit / default risk in view of thesovereign status of the issuer.b) Interest - Rate Risk: Bonds / Central Government securities which are fixed income securities,run price-risk like any other fixed income security. Generally, when interest rates rise, prices offixed income securities fall and when interest rates drop, the prices increase. The level of interestrates is determined by the rates at which government raises new money through RBI and the pricelevels at which the market is already dealing in existing securities, rate of inflation etc. The extentof fall or rise in the prices is a function of the prevailing coupon rate, number of days to maturityof a security and the increase or decrease in the level of interest rates. The prices of Bonds /Central Government securities are also influenced by the liquidity in the financial system and /orthe open market operations (OMO) by RBI. Pressure on exchange rate of the Rupee may alsoaffect security prices. Such rise and fall in price of bonds/central government securities in the4

UTI MMF SID 2018portfolio of the scheme/plans may influence the NAVs of the scheme/plans as and when suchchanges occur.c) Liquidity Risk: The Indian debt market is such that a large percentage of the total tradedvolumes on particular days might be concentrated in a few securities. Traded volumes forparticular securities differ significantly on a daily basis. Consequently, the Scheme/plans mighthave to incur a significant "impact cost" while transacting large volumes in a particular security.11. Securities Lending: It is one of the means of earning additional income for the scheme with a lesserdegree of risk. The risk could be in the form of non-availability of ready securities for sale during theperiod the securities remain lent. The scheme could also be exposed to risk through the possibility ofdefault by the borrower/intermediary in returning the securities. However, the risk would beadequately covered by taking of suitable collateral from the borrower by the intermediary involved inthe process. The scheme will have a lien on such collateral. It will also have other suitable checks andcontrols to minimise any risk involved in the securities lending process.12. Risks associated with Investing in Foreign Securities:Investment in overseas market: The success of investment in overseas market depends upon theability of the fund manager to understand conditions of those markets and analyse the information,which could be different from Indian markets. Operations in foreign markets would be subject toexchange rate fluctuation risk besides the market risks of those markets.13. Risks associated with Investing in Derivatives:Trading in debt derivatives involves certain specific risks like:a. Settlement Risk: This is the risk on default by the counter party. This is usually to the extent ofdifference between actual position and contracted position. This risk is substantially mitigatedwhere derivative transactions happen through clearing corporation.b. Market Risk: Market movement may also adversely affect the pricing and settlement of derivativetrades like cash trades.c. Illiquidity Risk: The risk that a derivative product may not be sold or purchased at a fair price dueto lack of liquidity in the market.d. An exposure to derivatives can lead to losses. Success of dealing in derivatives depends on theability of the fund manager to correctly assess the future market movement and in the event ofincorrect assessment, if any, performance of the scheme could be lower.e. Interest Rate Swaps (IRSs) and Forward Rate Agreements (FRAs) do also have inherent creditand settlement risks. However, these risks are substantially less as they are limited to the intereststream and not for the notional principal amount.f. Participating in derivatives is a highly specialised activity and entails greater than ordinaryinvestment risks. Notwithstanding such derivatives being used for limited purpose of hedging andportfolio balancing, the overall market in these segments could be highly speculative due to theaction of other participants in the market.Some of the risks associated with Interest Rate Swaps (IRS) and Forward Rate Agreements(FRAs) are as below:(i) Counterparty Risk: This refers to the risk of credit and settlement. Specifically it refers to theevent that the counterparty in the IRS/FRA deal is unable to meet its commitment and defaultson its obligations.5

UTI MMF SID 2018(ii) Basis Risk: Basis risk is the risk of mismatch i.e. the risk that arises when the underlying asset /liability is not perfectly correlated with the derivative position.(iii) Liquidity Risk: This refers to the risk associated with the ease with which a derivative positioncan be unwound.g. Derivative products are leveraged instruments and can provide disproportionate gains as well asdisproportionate losses to the investor. Execution of such strategies depends upon the ability ofthe fund manager to identify such opportunities. Identification and execution of the strategies tobe pursued by the fund manager involve uncertainty and decision of fund manager may notalways be profitable. No assurance can be given that the fund manager will be able to identify orexecute such strategies.h. The risk associated with the use of derivatives are different from or possibly greater than, the riskassociated with investing directly in securities and other traditional investments.Different types of securities in which the scheme would invest as given in the scheme informationdocument carry different levels and types of risk. Accordingly a scheme's risk may increase ordecrease depending upon its investment pattern. For e.g. Corporate bonds carry a higher amount ofrisk than Government securities. Further even among corporate bonds, bonds which are AAA ratedare comparatively less risky than bonds which are AA rated.14. Risk Analysis on underlying asset classes in Securitisation:Securitisation – Features & Investment StrategyAsset securitisation is a process whereby commercial or consumer credits are packaged and sold inthe form of financial instruments. A typical process of asset securitisation involves sale of specificReceivables to a Special Purpose Vehicle (SPV) set up in the form of a trust or a company. TheSPV in turn issues financial instruments (e.g., promissory notes, pass through certificates or otherdebt instruments) to investors, such instruments evidencing the beneficial ownership of theinvestors in the Receivables. The financial instruments are rated by an independent credit ratingagency. An Investor’s Agent is normally appointed for providing trusteeship services for thetransaction.The Fund will predominantly invest only in those securitisation issuances, which have AAA ratingindicating the highest level of safety from credit risk point of view at the time of making aninvestment.Generally available Asset Classes for securitisation in India are:Commercial VehiclesAuto and Two wheeler poolsMortgage pools (residential housing loans)Personal Loan, credit card and other retail loansCorporate loans/receivablesThe fund may invest in various type of securitisation issuances as contained in the above table,including but not limited to Asset Backed Securitisation, Mortgage Backed Securitisation, PersonalLoan Backed Securitisation, Collateralized Loan Obligation/ Collateralized Bond Obligation and soon.6

UTI MMF SID 201815.Risk Factors specific to investments in Securitised Papers:Types of Securitised Debt vary and carry different levels and types of risks. Credit Risk onSecuritised Bonds depends upon the Originator and varies depending on whether they are issuedwith Recourse to Originator or otherwise. A structure with Recourse will have a lower Credit Riskthan a structure without Recourse. Underlying assets in Securitised Debt may assume differentforms and the general types of receivables include Auto Finance, Credit Cards, Home Loans or anysuch receipts. Credit risks relating to these types of receivables depend upon various factorsincluding macro economic factors of these industries and economies. Specific factors like natureand adequacy of property mortgaged against these borrowings, nature of loan agreement/ mortgagedeed in case of Home Loan, adequacy of documentation in case of Auto Finance and Home Loans,capacity of borrower to meet its obligation on borrowings in case of Credit Cards and intentions ofthe borrower influence the risks relating to the asset borrowings underlying the securitised debt.Holders of the securitised assets may have low credit risk with diversified retail base on underlyingassets especially when securitised assets are created by high credit rated tranches, risk profiles ofPlanned Amortisation Class tranches (PAC), Principal Only Class Tranches (PO) and Interest Onlyclass tranches (IO) will differ depending upon the interest rate movement and speed of prepayment.Various types of major risks pertaining to Securitised Papers are as below:Liquidity & Price riskPresently, secondary market for securitised papers is not very liquid. This could limit the ability ofthe investor to resell them. Even if a secondary market develops and sales were to take place, thesesecondary transactions may be at a discount to the initial issue price due to changes in the interestrate structure.Delinquency and Credit RiskSecuritised transactions are normally backed by pool of receivables and credit enhancement asstipulated by the rating agency, which differ from issue to issue. The Credit Enhancement stipulatedrepresents a limited loss cover to the Investors. These Certificates represent an undivided beneficialinterest in the underlying receivables and there is no obligation of either the Issuer or the Seller orthe originator, or the parent or any affiliate of the Seller, Issuer and Originator. No financialrecourse is available to the Certificate Holders against the Investors’ Representative. Delinquenciesand credit losses may cause depletion of the amount available under the Credit Enhancement andthereby the Investor Payouts may get affected if the amount available in the Credit Enhancementfacility is not enough to cover the shortfall. On persistent default of a Obligor to repay hisobligation, the Servicer may repossess and sell the underlying Asset. However many factors mayaffect, delay or prevent the repossession of such Asset or the length of time required to realize thesale proceeds on such sales. In addition, the price at which such Asset may be sold may be lowerthan the amount due from that Obligor.Prepayment RiskFull prepayment of underlying loan contract may occur during the tenure of the paper. In the eventof prepayments, investors may be exposed to changes in tenor and reinvestment risk.16. Scheme Specific Risk Factors:a. The funds invested in the scheme will not have insurance cover from the Deposit Insurance andCredit Guarantee Corporation of India.b. Repurchase by a unitholder on any business day may be restricted to an amount as may bespecified by UTI AMC from time to time.7

UTI MMF SID 2018B. REQUIREMENT OF MINIMUM INVESTORS IN THE SCHEMEThe Scheme/plans shall have a minimum of 20 investors and no single investor shall account formore than 25% of the corpus of the Scheme/Plans. The two conditions shall be complied within eachcalendar quarter, on an average basis, as specified by SEBI. If there is a breach of the 25% limit byany investor over the quarter, a rebalancing period of one month would be allowed and thereafter theinvestor who is in breach of the rule shall be given 15 days notice to redeem his exposure over the25% limit. Failure on the part of the said investor to redeem his exposure over the 25% limit withinthe aforesaid 15 days would lead to automatic redemption by the Mutual Fund on the applicable NetAsset Value on the 15th day of the notice period. The Fund shall adhere to the requirementsprescribed by SEBI from time to time in this regard.C. DEFINITIONSIn the scheme unless the context otherwise requires:1."Accounting Year" of UTI Mutual Fund is from April to March.2.“Act” means the Securities and Exchange Board of India Act, 1992, (15 of 1992) as amended fromtime to time.3.“AMFI” means Association of Mutual Funds in India.4."Applicant" means an investor who is eligible to participate in the scheme and who is not a minorand shall include the alternate applicant mentioned in the application form.5.“Alternate applicant” in case of a minor means the parent/step-parent/court guardian who has madethe application on behalf of the minor6."Asset Management Company/UTI AMC/AMC/Investment Manager" means the UTI AssetManagement Company Limited incorporated under the Companies Act, 1956, (1 of 1956) [replacedby The Companies Act, 2013 (No.18 of 2013)] and approved as such by Securities Exchange Boardof India (SEBI) under sub-regulation (2) of Regulation 21 to act as the investment manager to theschemes of UTI Mutual Fund.7.“Body Corporate” or “Corporation” includes a company incorporated outside India but does notinclude (a) a corporation sole, (b) a co-operative society registered under any law relating to cooperative societies and (c) any other body corporate (not being a company as defined in this Act),which the Central Government may, by notification in the Official Gazette, specify in this behalf.8.“Book Closure” is a period when the register of unit holders is closed for all transactions viz.,purchase/redemption/changeover/switchover, change in particulars etc. Such Book Closure periodwill not exceed 7 days in a year.9.“Business Day” means a day other than (i) Saturday and Sunday or (ii) a day on which the principalstock exchange with reference to which the valuation of securities under a plan/ scheme is done isclosed, or the Reserve Bank of India or banks in Mumbai are closed for business, or (iii) a day onwhich the UTI AMC offices in Mumbai remain closed or (iv) a day on which purchase andredemption/ changeover / switchover of unit is suspended by the Trustee or (v) a day on whichnormal business could not be transacted due to storm, floods, bandhs, strikes or such other events asthe AMC may specify from time to time.8

UTI MMF SID 2018Further, it is clarified that the day(s) on which the money markets are closed / not accessible, shallnot be treated as business day(s) under the scheme.The AMC reserves the right to declare any day as a Business Day or otherwise at any or all officialPoints of Acceptance.10. “Custodian” means a person who has been granted a certificate of registration to carry on thebusiness of custodian under the Securities and Exchange Board of India (Custodian of Securities)Regulations, 1996, and who may be appointed for rendering custodian services for the Scheme inaccordance with the Regulations.11. "Eligible Trust" means - (i) a trust created by or in pursuance of the provisions of any law which isfor the time being in force in any State, or (ii) a trust, the properties of which are vested in atreasurer under the Charitable Endowments Act 1890 (Act 6 of 1890), or (iii) a religious orcharitable trust which is administered or controlled or supervised by or under the provisions of anylaw, which is for the time being in force relating to religious or charitable trusts or, (iv) any othertrust, being an irrevocable trust, which has been created for the purpose of or in connection with theendowment of any property or properties for the benefit or use of the public or any section thereof,or (v) a trust created by a will which is valid and has become effective, or (vi) any other trust, beingan irrevocable trust, which has been created by an instrument in writing and includes depository'within the meaning of Clause(e) of Sub-section (1) of Section 2 of The Depositories Act, 1996.12. “Firm”, “partner” and “partnership” have the meanings assigned to them in the Indian PartnershipAct, 1932 (9 of 1932), but the expression “partner” shall also include any person who being a minoris admitted to the benefits of the partnership.13."Fund Manager" means the manager appointed for the day-to-day management and administrationof a scheme.14. "Investment Management Agreement or IMA" means the Investment Management Agreement(IMA) dated December 9, 2002, executed between UTI Trustee Company Private Limited and UTIAsset Management Company Limited.15. “Investor Service Centre” such offices as are designated as Investor Service Centre (ISC) by theAMC from time to time.16. “Load” is a charge that may be levied as a percentage of NAV at the time of entry into a Scheme orat the time of exiting from a Scheme.17. "Mutual Fund" or "Fund" or "UTIMF" means UTI Mutual Fund, a Trust under the Indian Trust Act,1882 registered with SEBI under registration number MF/048/03/01 dated January 14, 2003.18. “NAV” means Net Asset Value per unit of a Scheme and the Plans/Options therein, calculated inthe manner provided in this Scheme Information Document and in conformity with the SEBIRegulations as prescribed from time to time.19. "Non-Resident Indian (NRI)"/"Person of Indian origin(PIO)" shall have the meaning as definedunder Foreign Exchange Management (Deposit) Regulations, 2016 (FEMA Regulation 2016)9

UTI MMF SID 2018framed by Reserve Bank of India under Foreign Exchange Management Act, 1999. As per FEMARegulation 2016 : 'Non-Resident Indian (NRI)' means a person resident outside India who is acitizen of India.' ‘Person of Indian Origin (PIO)’ means a person resident outside India who is acitizen of any country other than Bangladesh or Pakistan or such other country as may be specifiedby the Central Government, satisfying the following conditions: a) Who was a citizen of India byvirtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955); or b) Who belonged toa territory that became part of India after the 15th day of August, 1947; or c) Who is a child or agrandchild or a great grandchild of a citizen of India or of a person referred to in clause (a) or (b); ord) Who is a spouse of foreign origin of a citizen of India or spouse of foreign origin of a personreferred to in clause (a) or (b) or (c) Explanation: for the purpose of this sub-regulation, theexpression ‘Person of Indian Origin’ includes an ‘Overseas Citizen of India’ cardholder within themeaning of Section 7(A) of the Citizenship Act, 1955.'20. "Number of units deemed to be in issue" means the aggregate of the number of units issued and stillremaining outstanding.21. “Official points of acceptance” UTI Financial Centers (UFCs), Offices of the Registrars of theScheme and any other authorized center as may be notified by UTI AMC from time to time are theofficial points of acceptance of purchase/changeover/switchover and redemption applications of thescheme. The cut off time that is mentioned in the scheme information document will be applicableat these official points of acceptance. The list of official point of acceptance is attached with thisdocument.For purchase/redemption/changeover/switchover of units, applications received at any authorisedcollection center, which is not an official point of acceptance, the cut off time at the official point ofacceptance, will be applicable for determination of NAV.22. “RBI” means the Reserve Bank of India, constituted under the Reserve Bank of India Act, 1934.23. “Record date” the date announced by the fund for any benefits like dividends etc. The personholding the units as per the records of UTI AMC/Registrars, on the record date shall be eligible forsuch benefits.24. “Registrar” means a person whose services may be retained by UTI AMC to act as the Registrarunder the scheme, from time to time.25. "Regulations" or "SEBI Regulations" mean the SEBI (Mutual Funds) Regulations, 1996, asamended from time to time.26. "Scheme" means the UTI Money Market Fund.27. "SEBI" means the Securities and Exchange Board of India set up under the Securities and ExchangeBoard of India Act, 1992 (15 of 1992).28. “Society” means a society established under the Societies Registration Act of 1860 (21 of 1860) orany other society established under any State or Central law for the time being in force.29. “Sponsors" are Bank of Baroda, Punjab National Bank, Life Insurance Corporation of India andState Bank of India.10

UTI MMF SID 201830. “Switchover” means transfer of units of one scheme of UTI MF to another scheme of UTI MFwherever permissible.31. “Time” all time referred to in the scheme information document stands for Indian Standard Time.32. “Trustee" means UTI Trustee Company Private Limited, a company incorporated under theCompanies Act, 1956 [replaced by The Companies Act, 2013 (No.18 of 2013)] and approved bySEBI to act as the Trustee to the schemes of UTI Mutual Fund.33. “Trust Deed” means the Trust Deed dated December 9, 2002 of UTI Mutual Fund.34. "Unit" means the interest of the unitholders in a scheme, which consists of each unit representingone undivided share in the assets of a scheme.35. “Unit Capital” of a scheme/plan means the aggregate of the face value of units issued under thatscheme/plan and outstanding for the time being.36. "Unitholder" means a person holding units in a scheme of the Mutual Fund.37. In this scheme information document, unless the context otherwise requires, (i) the singular includesthe plural and vice versa, (ii) reference to any gender includes a reference to all other genders, (iii)heading and bold typeface are only for convenience and shall be ignored for the purposes ofinterpretation.38. The words 'scheme' and 'plan' shall carry a meaning inter-alia depending on the context.11

UTI MMF SID 2018D. DUE DILIGENCE BY THE ASSET MANAGEMENT COMPANYDue Diligence Certificate submitted to SEBI forUTI Money Market FundIt is confirmed that:i.the Draft Scheme Information Document forwarded to Securities And Exchange Boardof India is in accordance with the SEBI (Mutual Funds) Regulations, 1996, and theguidelines and directives issued by SEBI from time to time;ii.all legal requirements connected with the launching of the scheme as also the guidelines,instructions, etc. issued by the Government and any other competent authority in thisbehalf, have been duly complied with;iii. the disclosures made in the Scheme Information Document are true, fair and adequate toenable the investors to make a well informed decision regarding investment in thescheme;iv.all the intermediaries named in the Scheme Information Document and Statement ofAdditional Information are registered with SEBI and their registration is valid, as ondate.Vivek MaheshwariCompliance OfficerDate: May 14, 2018Place: Mumbai12

UTI MMF SID 2018II. INFORMATION ABOUT THE SCHEMEA. TYPE OF THE SCHEMEUTI Money Market Fund is an open ended debt scheme investing in money market instruments.B. WHAT IS THE INVESTMENT OBJECTIVE OF THE SCHEME?The investment objective of the scheme is to generate reasonable income with high level ofliquidity by investing in a portfolio of money market instruments.However there can be no assurance that the investment objective of the Scheme will be achieved.The Scheme does not guarantee / indicate any returns.C. HOW WILL THE SCHEME ALLOCATE ITS ASSETS?1. Asset Allocation:Securities / InstrumentsMoney market instruments(including CBLO & Repo)Indicative Allocations(% of total assets)100Risk ProfileLowThe scheme will invest in money market securities, including CBLO & Repo, having maturity up to 1 year.The scheme may take derivatives position based on the opportunities available subject to the guidelinesissued by SEBI from time to time and in line with the overall investment objective of the scheme. Thesemay be taken to hedge the portfolio, rebalance the same or to undertake any other strategy. Totalinvestments in debt, money market instruments (including CBLO & Repo) and derivatives shall not exceed100% of the net assets of the scheme. Subject to above conditions, the investment in derivative can be upto 50% of the

UTI MMF SID 2018 5 portfolio of the scheme/plans may influence the NAVs of the scheme/plans as and when such changes occur. c) Liquidity Risk: The Indian debt market is such that a large percentage