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- Unit_Trust_of_India abstract "Unit Trust of India is a financial organization in India, which was created by the UTI Act passed by the Parliament in 1963(30th Dec 1963). For more than two decades it remained the sole vehicle for investment in the capital market by the Indian citizens. In mid- 1980s public sector banks were allowed to open mutual funds. The real vibrancy and competition in the MF industry came with the setting up of the Regulator SEBI and its laying down the MF Regulations in 1993.UTI maintained its pre-eminent place till 2001, when a massive decline in the market indices and negative investor sentiments after the Ketan Parekh scam created doubts about the capacity of UTI to meet its obligations to the investors. This was further compounded by two factors; namely, its flagship and largest scheme US 64 was sold and re-purchased not at intrinsic NAV but at artificial price and its Assured Return Schemes had promised returns as high as 18% over a period going up to two decades.As of 2010, UTI has 10 million investors.Fearing a run on the institution and possible impact on the whole market Government came out with a rescue package and change of management in 2001.Subsequently, the UTI Act was repealed and the institution was bifurcated into two parts .UTI Mutual Fund was created as a SEBI registered fund like any other mutual fund. The assets and liabilities of schemes where Government had to come out with a bail-out package were taken over directly by the Government in a new entity called Specified Undertaking of UTI, SUUTI. SUUTI holds over 27% stake Axis Bank. In order to distance Government from running a mutual fund the ownership was transferred to four institutions; namely State Bank of India, Life Insurance Corporation of India, Bank of Baroda and Punjab National Bank, each owning 25%. Certain reforms like improving the salary from PSU levels and effecting a VRS were carried out UTI lost its market dominance rapidly and by end of 2005,when the new share-holders actually paid the consideration money to Government its market share had come down to close to 10%!A new board was constituted and a new management inducted. Systematic study of its problems role and functions was carried out with the help of a reputed international consultant. Fresh talent was recruited from the private market, organizational structure was changed to focus on newly emerging investor and distributor groups and massive changes in investor services and funds management carried out. Once again UTI has emerged as a serious player in the industry. Some of the funds have won famous awards, including the Best Infra Fund globally from Lipper. UTI has been able to benchmark its employee compensation to the best in the market, has introduced Performance Related Payouts and ESOPs.The UTI Asset Management Company has its registered office at: UTI Tower, Gn Block, Bandra — Kurla Complex, Bandra (East), Mumbai - 400 051.It has over 70 schemes in domestic MF space and has the largest investor base of over 9 million in the whole industry. It is present in over 450 districts of the country and has 100 branches called UTI Financial Centres or UFCs. About 50% of the total IFAs in the industry work for UTI in distributing its products! India Posts, PSU Banks and all the large Private and Foreign Banks have started distributing UTI products. The total average Assets Under Management (AUM) for the month of June 2008 was Rs. 530 billion and it ranked fourth. In terms of equity AUM it ranked second and in terms of Equity and Balanced Schemes AUM put together it ranked FIRST in the industry. This measure indicates its revenue- earning capacity and its financial strength.Besides running domestic MF Schemes UTI AMC is also a registered portfolio manager under the SEBI (Portfolio Managers) Regulations. It runs different portfolios for its HNI and Institutional clients. It is also running a Sharia Compliant portfolio for its Offshore clients. UTI tied up with Shinsei Bank of Japan to run a large size India-centric portfolio for Japanese investors.For its international operations UTI has set up its 100% subsidiary, UTI International Limited, registered in Guernsey, Channel Islands. It has branches in London, Dubai and Bahrain. It has set up a Joint Venture with Shinsei Bank in Singapore. The JV has got its license and has started its operations.In the area of alternate assets, UTI has a 100% subsidiary called UTI Ventures at Banglore This company runs two successful funds with large international investors being active participants. UTI has also launched a Private Equity Infrastructure Fund along with HSH Nord Bank of Germany and Shinsei Bank of Japan.CURRENT MD : Mr . Leo Puri, In the absence of any head for 2years Mr. Imtaiyazur Rahman was given the responsibility to head the Company as ACEO(Acting CEO)Mr. Rahman is currently the CFO of UTI AMC Ltd. looking after the day-to-day operations of the company.He has about 25 years of experience in management and business leadership. In UTI AMC, he heads the functions of Finance, Accounts, Taxation and Board related matters. He is in charge of the Global operations of the company. He also heads Information Technology, Administration, Estates, Fund Management (Dealing Section–Administration) and co-ordinates the Private Equity arm of UTI AMC. In the past, he has held the position of Head, Human Resources.Mr. Rahman is on the Board of UTI International (Singapore), Offshore Funds of UTI International, and Invest India Micro Pension Ltd. He is a Member on Investment Committee of Ascent Capital (PE).He is a Director on the Board of Association of Mutual Funds in India (AMFI). He has been the Convenor of the AMFI Committee on Foreign Investment. He is also on the Investment Committee & Capital Market Committee of IMC.".
- Unit_Trust_of_India foundingYear "1993".
- Unit_Trust_of_India industry Mutual_fund.
- Unit_Trust_of_India internationally "true".
- Unit_Trust_of_India keyPerson MD.
- Unit_Trust_of_India location India.
- Unit_Trust_of_India location Maharashtra.
- Unit_Trust_of_India location Mumbai.
- Unit_Trust_of_India type Public_company.
- Unit_Trust_of_India wikiPageExternalLink uti-to-reach-out-to-investors-using-social-media.htm.
- Unit_Trust_of_India wikiPageExternalLink uti-mutual-funds-to-merge-equity-schemes.
- Unit_Trust_of_India wikiPageExternalLink www.utimf.com.
- Unit_Trust_of_India wikiPageID "8918600".
- Unit_Trust_of_India wikiPageRevisionID "605446032".
- Unit_Trust_of_India companySlogan "NIL".
- Unit_Trust_of_India foundation "1993".
- Unit_Trust_of_India hasPhotoCollection Unit_Trust_of_India.
- Unit_Trust_of_India homepage www.utimf.com.
- Unit_Trust_of_India industry Mutual_fund.
- Unit_Trust_of_India intl "yes".
- Unit_Trust_of_India keyPeople "Leo Puri, MD".
- Unit_Trust_of_India location India.
- Unit_Trust_of_India location Maharashtra.
- Unit_Trust_of_India location Mumbai.
- Unit_Trust_of_India logo File:Uti_mutual_fund.jpg.
- Unit_Trust_of_India name "Unit Trust of".
- Unit_Trust_of_India type Public_company.
- Unit_Trust_of_India subject Category:Companies_based_in_Mumbai.
- Unit_Trust_of_India subject Category:Companies_established_in_1963.
- Unit_Trust_of_India subject Category:Financial_institutions_of_India.
- Unit_Trust_of_India subject Category:Government-owned_companies_of_India.
- Unit_Trust_of_India subject Category:Mutual_funds_of_India.
- Unit_Trust_of_India type Abstraction100002137.
- Unit_Trust_of_India type CompaniesBasedInMumbai.
- Unit_Trust_of_India type CompaniesEstablishedIn1963.
- Unit_Trust_of_India type Company108058098.
- Unit_Trust_of_India type Government-ownedCompaniesOfIndia.
- Unit_Trust_of_India type Group100031264.
- Unit_Trust_of_India type Institution108053576.
- Unit_Trust_of_India type Organization108008335.
- Unit_Trust_of_India type SocialGroup107950920.
- Unit_Trust_of_India type YagoLegalActor.
- Unit_Trust_of_India type YagoLegalActorGeo.
- Unit_Trust_of_India type YagoPermanentlyLocatedEntity.
- Unit_Trust_of_India type Agent.
- Unit_Trust_of_India type Company.
- Unit_Trust_of_India type Organisation.
- Unit_Trust_of_India type Organization.
- Unit_Trust_of_India type Agent.
- Unit_Trust_of_India type SocialPerson.
- Unit_Trust_of_India type Thing.
- Unit_Trust_of_India comment "Unit Trust of India is a financial organization in India, which was created by the UTI Act passed by the Parliament in 1963(30th Dec 1963). For more than two decades it remained the sole vehicle for investment in the capital market by the Indian citizens. In mid- 1980s public sector banks were allowed to open mutual funds.".
- Unit_Trust_of_India label "Unit Trust of India".
- Unit_Trust_of_India sameAs m.027pn9w.
- Unit_Trust_of_India sameAs Q7887106.
- Unit_Trust_of_India sameAs Q7887106.
- Unit_Trust_of_India sameAs Unit_Trust_of_India.
- Unit_Trust_of_India wasDerivedFrom Unit_Trust_of_India?oldid=605446032.
- Unit_Trust_of_India homepage www.utimf.com.
- Unit_Trust_of_India isPrimaryTopicOf Unit_Trust_of_India.
- Unit_Trust_of_India name "Unit Trust of".