UTI Asset Management Co. Ltd. (UTIAMC) is a company incorporated under The Companies Act, 1956.
UTIAMC was appointed as the Asset Management Company of the UTI Mutual Fund in terms of the Investment Management Agreement executed between UTI Trustee Co. Ltd. and UTIAMC on December 9, 2002. UTIAMC was registered by SEBI to act as the asset management company for UTI Mutual Fund vide its letter of January 14, 2003.
The paid up capital of UTIAMC has been subscribed equally by four sponsors: State Bank of India, Life Insurance Corporation of India, Bank of Baroda and Punjab National Bank. UTIAMC, apart from managing the schemes of UTI Mutual Fund, also manages the schemes transferred/migrated from the erstwhile Unit Trust of India, in accordance with the provisions of the Investment Management Agreement, the Trust Deed, the SEBI (Mutual Funds) Regulations and the objectives of the schemes.
UTIAMC has also entered into a service agreement with the Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI) to provide them with back office support for business processes.
UTIAMC is also a registered Portfolio Manager under the SEBI (Portfolio Managers) Regulations, 1993 since February 3, 2004 for undertaking portfolio management services.
Subsidiaries
UTI International Ltd. (UTIIL) is a 100% subsidiary of UTIAMC, registered in Guernsey, Channel Islands, which acts as the manager to offshore funds and markets these offshore funds abroad. Towards expansion of its activities, UTIIL has signed a joint venture agreement with Shinsei Bank Ltd. of Japan to set up UTI International (Singapore) Pvt. Ltd.
UTIIL is focussed on investment management and distribution of financial products in the South East Asian region. UTIIL also manages funds investing in other jurisdictions.
UTI Retirement Solutions Ltd. (UTIRSL), is a 100% subsidiary of UTIAMC which was incorporated in December, 2007 and started operations w.e.f. March, 2008. UTIRSL has been set up to carry out the operations as a Pension Fund Manager under the New Pension System set up by Pension Fund Regulatory and Development Authority (PFRDA).
UTIRSL was initially appointed by the NPS to manage the pension funds of the government employees. In March, 2009, the Company has also been appointed by NPS for management of pension funds for non-government employees.
Directors of UTIAMC
Name of the Director
Shri U K Sinha
Chairman & Managing Director
UTI AMC Pvt. Ltd.
UTI Tower ‘Gn’ Block,
Bandra Kurla Complex,
Bandra (East), Mumbai - 51
