The board of the Unit Trust of India on Monday formed a three-member sub-group to study the Joint Parliamentary Committee's report on UTI and suggest an action plan in about a month's time.
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.
The government on Thursday cleared the long-awaited sale of the UTI Asset Management Company to three state-owned banks and the LIC at a price of Rs 1,237 crore.
Reserve Bank of India has turned down Hongkong and Shanghai Banking Corporation Ltd's plans to pick up about 20 per cent stake in UTI Bank by restricting its approval for acquisition of only 14.6 per cent stake
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.
Most market analysts are expecting the momentum to shift towards 'quality' and 'growth' stocks in 2024 after the outperformance of 'value' stocks over the past three years. 'Value' stocks are generally well-established companies with steady profits that are trading at a discount to what they are intrinsically worth. Companies in sectors such as commodities, industrials, commercial vehicles and public sector units (PSUs) fall in this bracket.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries
UTI Bank Ltd has posted a 45.02 per cent increase in its net profit at Rs 52.18 crore (Rs 521.8 million) for the first quarter ended June 2003 as against Rs 35.98 crore (Rs 359.8 million) for the corresponding quarter last fiscal.
'From a risk-return perspective, large-cap funds may generate lower-than-historical average returns in 2024, whereas mid-, and small-cap funds hardly have any upside left.'
Rejecting UTI's contention that there was no deficiency of service or negligence on its part, the court agreed with the District Consumer Forum rulings that UTI was bound to pay the amount to the unit-holders.
Following the footsteps of the Central Board of Direct Taxes, the Employees Provident Fund Organisation has entrusted the UTI Investor Services with the job of creating the required infrastructure for issuing its much-bragged social security number.
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
IDBI Bank, UTI Bank, Citibank and Standard Chartered Bank on Wednesday came together to launch an independent shared automatic teller machine network, covering six million cardholders in 100 cities of India.
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.
Find out whether the fund is equity, debt, or hybrid oriented. 'Understand the portfolio composition and whether it suits your risk appetite and horizon.'
Besides these entities, IDBI Capital was shortlisted by the interim pension regulator PFRDA for acting as a fund manager and asked to submit bids.
Despite the uncertainties created by rising bond yields and oil prices, fund managers have been proactively deploying fresh flows into the equity market. The cash available with equity fund managers, which has remained lower at around 5 per cent in the past few months, hit a 16-month low of 4.8 per cent in September, shows a Motilal Oswal Financial Services report. Cash holdings in equity schemes had topped 6 per cent in February amid subdued equity market sentiment.
UTI Bank has posted a 44.82 per cent rise in its net profit at Rs 278.31 crore (Rs 2.78 billion) for the financial year ended March 31, 2004 as against Rs 192.18 crore (Rs 1.92 billion) in 2002-03.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your mutual fund queries.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
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