UTI Asset Management

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UTI Mutual Fund
Public company
IndustryMutual fund
FoundedUnit Trust of India Act 1963, UTI Repeal Act 2002.
HeadquartersMumbai, Maharashtra, India
Area served
India, Japan, Singapore, London, Dubai and Bahrain
Key people
Imtaiyazur Rahman Director and Acting Chief Executive Officer
ProductsMutual Funds, National Pension System, Private Equity, Private Debt.
ServicesPortfolio Management Services (PMS)
OwnerLIC, BoB, PNB, SBI.
SubsidiariesUTI Asset Management Company, UTI International Limited, UTI Ventures, UTI Retirement Solutions, UTI Capital.
Websitewww.utimf.com

UTI Mutual Fund was carved out of the erstwhile Unit Trust of India (UTI) as a SEBI registered mutual fund from 1 February 2003. The Unit Trust of India Act 1963 was repealed, paving way for the bifurcation of UTI into – Specified Undertaking of Unit Trust of India (SUUTI); and UTI Mutual Fund (UTIMF).

UTI Mutual Fund is promoted by the four of the largest Public Sector Financial Institutions as sponsors, viz., State Bank of India, Life Insurance Corporation of India, Bank of Baroda and Punjab National Bank with each of them holding an 18.24% stake in the paid up capital of UTI AMC.

T Rowe Price Group Inc (TRP Group) through its wholly owned subsidiary T Rowe Price Global Investment Services Ltd. (TRP) has acquired a 26% stake in UTI Asset Management Company Limited (UTI AMC).[1]

UTI Mutual Fund is the oldest and one of the largest mutual funds in India with over 10 million investor accounts under its 230 domestic schemes / plans as on September 30, 2017.[2]

UTI Mutual Fund has a nationwide distribution network, which is spread across the length and breadth of the country. Its distribution network comprises over 48000 AMFI/NISM certified Independent Financial Advisors and 150 Financial Centers.[citation needed][3]

UTI Mutual Fund has been the pioneer for launching various schemes viz. UTI Unit Linked Insurance Plan (ULIP) with life & accident cover (Launched in 1971), UTI Mastershare (Launched in 1986), India's first Offshore Fund – India fund (Launched in 1986), UTI Wealth Builder Fund, the first of its kind in the Indian mutual fund industry combining different asset classes i.e. equity and gold which are lowly correlated.[citation needed][4]

See also[edit]

Mutual funds in India UTI launched/participated in equity of 18 Newly launched prominent companies. Such as 1 Axis Bank 2. Stock Holding 3. NSDL 4. CDSL, 5. IL& FS, 6. NSE, 7. UTI Securities, 8. UTI ISL, \ 9.OTCEI, 10.)UTI Infrastructure, 11.UTI International Ltd, 12.Venture Capital TDICI (Jointly with ICICI) and 13. Risk Calpial (jointly with IFCI) 14.

References[edit]

  1. ^ "T Rowe Price stake purchase in UTI AMC is value for money - Livemint". www.livemint.com. Retrieved 24 October 2017.
  2. ^ "UTI Mutual Fund: Mutual Fund NAV, UTI Mutual Fund Schemes – NDTVProfit.com". profit.ndtv.com. Retrieved 24 October 2017.
  3. ^ "Amc Branches | Mutual Funds in India | Investment Plans". www.amfiindia.com. Retrieved 21 August 2018.
  4. ^ "UTI Mutual Fund: Best Schemes with High Returns". www.policybazaar.com. Retrieved 21 August 2018.

External links[edit]