Does Unit Trust of India still exist?

Does Unit Trust of India still exist?

The Unit Trust of India Act 1963 was repealed, paving way for the bifurcation of UTI into: Specified Undertaking of Unit Trust of India (SUUTI) and UTI Mutual Fund (UTIMF).

What happened to Unit Trust of India?

In February 2003, following the repeal of the Unit Trust of India Act 1963 UTI was bifurcated into two separate entities. 29,835 crores as at the end of January 2003, representing broadly, the assets of US 64 scheme, assured return and certain other schemes.

Is it safe to invest in UTI?

UTI Equity Fund is an average performer in the multi cap category. You may continue with the scheme if you have a moderate risk profile. Though you should always invest in equity mutual fund schemes with a long-term horizon, you should always keep track of their performance.

Is UTI a govt company?

Established in 1993, UTI Infrastructure Technology And Services Limited (UTIITSL) is a government owned company that provides technology and outsourcing services to the financial and government sectors of India.

Who is the owner of UTI AMC?

T Rowe Price Group Inc (TRP Group) through its wholly owned subsidiary T Rowe Price International Ltd. (TRP) has acquired a 26% stake in UTI Asset Management Company Limited (UTI AMC).

Who owns ITI Mutual Fund?

Mr.Sudhir Valia
Investment Trust of India is the promoter of ITI Mutual Fund. Mr. Sudhir Valia is the mentor and one of the shareholders of ITI Group. He is a member of Institute of Chartered Accountants of India, and carries more than three decades of experience in taxation and finance.

What is the purpose of unit trust?

Tax Advantages of a Unit Trust But they are an attractive business structure because of the income tax advantages. A unit trust, unlike a company, is not a separate taxable entity and as such, the trust’s income or capital is distributed pre-tax.

What are the scheme of the Unit Trust of India?

Unit Trust of India was first Set up in 1st February 1964 under the Unit Trust of India Act, 1963. It is a statutory public sector investment institution having the main objective to encourage and mobilize the savings of the community and canalize them into productive corporate investment.

Is Unit Trust of India a government company?

Unit Trust OF India Investment Advisory Services Limited is a Union Govt company, incorporated on 20 Jun, 1988. It’s a public unlisted company and is classified as’company limited by shares’.

Is Unit Trust of India a statutory company?

Who is the chairman of Unit Trust of India?

Mr. U.K Sinha
At present, Unit Trust of India is governed by Mr. U.K Sinha who is also the chairman and managing director of the company.

What is the new name of UTI?

Name change in Schemes of UTI Mutual Fund

Existing New
UTI – CCP Advantage Fund UTI CCF – Investment Plan
UTI – MIS Advantage Plan UTI Regular Savings Fund
UTI Balanced Fund UTI Hybrid Equity Fund
UTI SPrEAD Fund UTI Arbitrage Fund