UTI , the oldest fund house has witnessed a change at the top, which will be good for the AMC as well as investors. The strong legacy is what the MD, Leo Puri, plans to build on, especially the AMC's presence in small towns and cities across the country to offer its products to every investor. The fund house has been very active on the investor education front with its Swatantra initiative which aims to be India's journey to financial freedom.
According to him, the fund industry has bundled its products to all classes of investors and very little attention is being paid to individual classes and he feels this model has to change. The AMC has offerings to cater to every investor need and Puri feels the need for an independent institution that can mobilise and deploy capital is something that UTI is automatically suited for. He feels managing money for institutions is different from managing retail money, an expertise that UTI will work on by introducing simple products that will work with the retail segment and avoid misselling.
Total assets: Rs 70,057 crore, Net Profit: Rs 148.90 crore
This article was originally published on December 24, 2013.
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