UTI Mutual Fund has declared income distribution @12% (i.e. Rs. 1.20 per unit on face value of Rs. 10) in UTI GSF-Petro Fund.
State-run UTI Mutual fund has toppled private sector ICICI Prudential to be the country's second biggest fund house, while Anil Ambani Group's Reliance MF has retained its top position.
The UTI Liquid Fund has mobilised more than Rs 1,097 crore (Rs 10.97 billion) in just two days of the initial offer period, UTI sources said in Mumbai on Thursday.
The government is not in favour of selling UTI Mutual Fund to a private player and has insisted that one of the existing sponsors buy it by this fiscal.
UTI Mutual Fund has launched UTI-FAMILY (that allows investors to buy mutual fund units in their name, but the returns go straight to a parent's bank account.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
UTI Mutual Fund plans to foray into the pension sector once the government sets up Pension Fund Regulatory and Development Authority in October this year.
The move follows the near Rs 60 crore (Rs 600 million) redemptions every month from the US-64 and ARS bonds in the last couple of years.
There are various mutual fund schemes to choose from, such as equity-diversified funds, mid- or small-cap funds, debt funds and so on.
Four regionally strong banks -- Bank of India, Corporation Bank, Allahabad Bank and Oriental Bank of Commerce -- are in the fray to buy out sponsor's stake in UTI Mutual Fund that manages assets worth Rs 20,000 crore
Life Insurance Corporation and UTI Mutual Fund are in the fray for entering the lucrative pension business, which is slated to grow to Rs 50,000 crore (Rs 500 billion) by 2010.
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The asset manager is yet to resolve the impasse surrounding the payment of pension to its erstwhile employees who had opted for voluntary retirement in 2003.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
But there is a possibility of conflict of interests in the theoretical sense.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
More than 50 per cent of SIP accounts come from semi-urban and rural areas.
The Securities and Exchange Board of India (Sebi) has just released a proposal to alter the regulations pertaining to the sponsor system for mutual funds. One of the reasons for the proposed changes is that there are two conflicting regulations that need to be clarified. The other reason is that the sponsor system may itself be outdated as it stands, and the proposed changes would allow new entities such as private equity funds and portfolio management services to enter this space.
The mutual fund industry's QAAUM (Quarterly Average Assets Under Management) was up 37 per cent year-on-year (Y-o-Y) (9 per cent Q-o-Q) to hit Rs 59 trillion (end Q1FY25). The equity segment grew 55 per cent Y-o-Y and equity formed 56 per cent of total AUM, up 49 per cent in Q1FY24. Sequentially, AUM grew by Rs 5 trillion.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
UTI AMC on Friday dismissed reports that its former chief M Damodaran had awarded 'undue favour' to some executives, saying it has initiated a new performance-based compensation package in line with the recommendations of an HR consultant.
UTI's legacy and brand recognition, together with a robust distribution network and access to public sector money, could work in its favour, and help it command a premium
Mid- and small-cap funds dominate the list, opening up opportunity for investors to make contra bets in large-cap funds
Given gains in equity prices, it is not surprising that the earnings of asset management companies (AMCs) are growing quicker. The earnings momentum looks set to continue. Good fund performances have thus led to AMC earnings upgrades although valuations are high. Recent market performance and net flow trends have led to earnings upgrades by between 3-8 per cent for FY25-27.
The restructuring of UTI, which started seven years ago when the country's oldest mutual fund failed to meet redemption obligations, is nearly complete.
UTI Asset Management Company (UTI AMC), India's oldest mutual fund, is in advanced stages of discussions to divest 26 per cent to a strategic partner.
Fund houses ape peers' products to lure investors. Popular themes are banked on to attract investors' attention.
Country's largest mutual fund UTI AMC on Friday became a private company with the four sponsors paying Rs 1,236.95 crore (Rs 12.369 billion) to the government.
Now that the gold exchange traded funds (GETFs) are being sold in the market, let's look at a few things to understand them better.
Reliance Mutual Fund has toppled UTI MF to become the country's largest fund house in January with assets under management of more than Rs 39,000 crore (Rs 390 billion).
Unit Trust of India said following its bifurcation, two schemes listed on BSE - Mutual Fund (Subsidiary) Unit Scheme and Master Value Unit Plan - have gone to UTI 11.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
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