UTI MF Looks At UM Over Rs 50,000 cr This Year

UTI Mutual Fund looks to cross Rs 50,000 crore in terms of Asset Under Management (AUM) on the back of a slew of schemes slated to be launched during the year.
As of December 31, 2006, UTI MF had a corpus of Rs 38,108 crore under its management as compared to Rs 25,600 crore at the end of same month previous year. Over a period of one year, the fund house has seen its AUM increase by more than 48 per cent. The fund house would four more new schemes by March-April this year, he said, adding if not all the four, at least two would definitely make its way into the market by the end of first quarter this year. UTI MF proposes to launch Gold Exchange Traded Fund and Global Navigator Fund (overseas fund) in next two months. Besides, presently two schemes - UTI Capital Protection Scheme and UTI Long Term Advantage Fund are open for subscription. The fund manager expects to mop up about Rs 2,000 crore from these two schemes.