MUMBAI: To provide an opportunity to investors to receive returns unaffected by the rise or fall of equity markets, UTI Mutual Fund has announced the launch of a new market-neutral fund UTI-SPrEAD Fund, an open-ended equity fund. The new fund offer, which opened on Friday, will close on June 22. The minimum initial investment is Rs. 5,000. Subsequent minimum investment under a folio is Rs. 1,000 and in multiples of Re. 1 thereafter with no upper limit. The fund offers two options, namely, growth and dividend, with compulsory reinvestment of dividend. There is no entry load during the new fund offer and the post-new fund offer period, according to a release.