New Delhi, Dec 23 (PTI) UTI Asset Management Company on Wednesday said it has raised over Rs 920 crore through a new fund offer (NFO) of its small cap fund.

The scheme -- UTI Small Cap Fund--attracted more than 86,000 applications during the NFO period from December 2-16 garnering more than Rs 920 crore, the fund house said in a statement.

"The excellent mobilisation in the NFO of UTI Small Cap Fund is a reflection of the continued trust reposed by investors in UTI Mutual Fund, its fund management capabilities and in its robust systems and processes," said Imtaiyazur Rahman, Chief Executive Officer, UTI AMC.

UTI Small Cap Fund is an open-ended equity scheme which will predominantly invest in small cap stocks.

The scheme will re-open for subscription and redemption for an ongoing basis from December 23.

The investment objective of the scheme is to generate long term capital appreciation by investing predominantly in equity and equity related securities of small cap companies.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)