UTI Mutual Fund

In 2003, the Unit Trust of India was bifurcated into two components- the SUUTI and the UTI Mutual Funds or UTIMF. The UTI Mutual Fund was registered with the SEBI on the First of February 2003.

4 of the largest PSU banks now back this Mutual Fund.

All UTI Mutual Funds are managed by the UTI Asset Management Company Ltd. The 4 big partners- State Bank of India, the PNB or Punjab National Bank, Bank of Baroda, and the Life Insurance Corporation of India each holds 18.24% of the shares in the UTIMF.

A significant share of 26% is held by the T Rowe Price Group Inc, also known as the TRP Grou, and controlled by its subsidiary - T Rowe Price Global Investment Services Ltd.

The UTI Mutual Fund is precedes most renowned Mutual Funds in India. Its investors number nearly 11 million and there are over 250 plans currently operational with a total AuM of nearly Rs 238790 Crores.

What makes these offers attractive is their distribution. There is no other provider of Mutual Funds in India with a larger outreach of services. Even the best UTI Mutual Funds reach out to most of rural and semi-urban regions of India.

There are over 50,000 AMFI and NSFM certified Independent Advisors on Finance who are spread all over the country who work on behalf of UTI Mutual Funds. There are over 200 full-time Financial Service Centres too. UTI Mutual Fund is the eighth largest mutual fund house by asset size in India.

One of the most popular and long-running Mutual Fund schemes is the UTI Mastershare, which was launched by the then-extant UTI in 1986.

The UTI Mutual Fund persists as a pioneer in the industry in the domestic sector. It was the first to offer a Unit Linked Insurance Plan or ULIP in 1971 with added life and accident cover. It also reached another milestone in 1986 with what was India’s first Offshore fund, called simply the ‘India Fund.’

One of the feats achieved by the UTI Asset Management company was to create the UTI Wealth Builder Fund which links two separate but closely related asset classes- Gold and Equity. Thanks to the huge number of subscribers, the UTI Mutual Fund is still going strong in the Indian market.

The fund managers at UTI Asset Management, which manages the Mutual Funds, have divested widely and are involved in a wide array of businesses, including retirement solutions, portfolio management solutions, International Banking and alternative assets management.

1. Mr. Ajay Tyagi

Mr. Tyagi is one of the country’s most redoubtable fund managers who serves as the Executive Vice President and Fund Manager of Equity at UTI Mutual Fund. He is a lifetime member of The CFA Institute and is a Chartered Financial Accountant himself. He also has a Master’s degree in Finance from Delhi University.

He joined the UTI family in 2000.

Mr. Tyagi has an excellent record in equity research and funds management. Before assuming his present responsibilities, Mr. Tyagi donned the mantle of the Assistant Fund Manager of the Offshore Funds Division.

He also serves as a permanent advisor on a number of India-specific funds which are parked overseas.

2. Mr. Kausik Basu

Mr. Basu serves as the Fund Manager of Equity and also as an Executive Vice President or EVP of UTI Asset Management Company. He completed his graduation and post-graduation from the University of Calcutta and also has a background in law. Mr. Basu is a senior member of the Institute of Cost Accountants of India or ICAI. He brings 32 years of knowledge and achievements to the UTI Mutual Funds.

From 1984 to 1999, Basu worked with the Calcutta Regional Office of UTI in various executive capacities. He has also served at the headquarters of the UTI Group of companies at various senior levels.

Basu has also worked as an Assistant Fund Manager of various UTIMF products including the UTI Opportunity and Wealth Builder Funds. His 20 years of experience in the Domestic Equity market has also managed to earn him a considerable reputation in India and abroad.

3. Mr. Ritesh Nambiar

Mr. Nambiar is currently the Senior Vice President of UTI Mutual Funds and also serves as a Senior Fund Manager for UTI’s Credit Risk Fund. Mr. Nambiar is credited with creating two of the most successful products of the UTIMF portfolio- the Ultra Short Term and Medium Term Mutual Funds.

Mr. Nambiar has several years of experience in working with corporations like TransMarket Group and CRISIL Research where he worked in the fixed income valuation, Global Fixed Income Variation and Index creation.

Mr. Nambiar completed his BMS and MMS in Finance from the University of Mumbai. He is also a CFA Charterholder and has completed a course in Financial Risk Management from the CFA Institute and GARP. From 2008, he has been actively associated with the UTI Asset Management Company.

Mr. Nambiar is also a very senior researcher of the Indian BFSI segment and acts as an advisor to the Fund Management body.

4. Mr. Sharwan Kumar Goyal

Sharwan Kumar Goyal is currently the Vice President and the Chief Fund Manager of Equity. He is a qualified CFA and a full-time member of the CFA Institute. Mr. Goyal is a Post-Graduate in Management from the Welingkar Institute of Management Development & Research.

He started working with UTI in 2006. With over 11 years of experience in Risk Management, Equity Management and Portfolio Analysis, Mr. Goyal currently also heads the Overseas Investments division as the Chief Fund Manager.

Mr. Goyal is also a leading authority on AMC Management and Fund Distribution.

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