UTI MF ahead on profit street even as AUM slips.
Byline: Muthukumar K Last year, the 43-year-old Unit Trust of India (UTI) went through a mid-life crisis. The state-owned mutual fund (MF) behemoth was struggling to retain its supremacy in the asset management game, something which it had done for decades. In terms of assets under management,...

Name game: UTI Bank turns Axis on royalty demand.
MUMBAI: UTI Bank has decided to stop piggybacking on the UTI brandname and has decided to carve a new identity for itself by rebranding itself as "Axis Bank". The rebranding follows a demand of royalty payment from UTI AMC over the brand use. The bank board which met on...

Double bonanza for Ambani Jr.
MUMBAI: For the second time in the last one year, a private sector mutual fund house has captured the top slot in terms of asset under management (AUM), pushing UTIMF to the second spot. Reliance Mutual Fund, with a January-end AUM of Rs 39,020 crore is the...

25 foreign investors line up for UTI AMC stake.
Byline: Deepshikha Sikarwar NEW DELHI: Private equity firm Blackstone, Goldman Sachs, UBS, Citigroup, National Australian Bank and Shinsei Bank are likely bidders for an equity stake in India's oldest fund house, UTI Asset Management Company (UTI AMC). Close to 25 overseas institutional investors have evinced...

Centre stuck with UTI rescue pack scrips.
Byline: Mayur Shetty MUMBAI: On paper, the appreciation in the shares of ITC, UTI Bank and L&T, which were acquired by the government from the erstwhile Unit Trust of India in 2002 as part of a rescue package, will leave the government with a surplus after meeting...

UTI to divest 36.58 per cent stake in SICOM.
NEW DELHI: The Unit Trust of India has invited bids from financial investors to sell its 36.58 per cent stake in State Industrial Corporation of Maharashtra (SICOM), the investment arm of Maharashtra government. UTI holds 40 per cent stake in SICOM - 36.58 per cent through Specified...

RBI wants local FIs as counterweight to FIIs.
MUMBAI: The Reserve Bank of India has called for the development of strong domestic financial institution in the equity markets, which are presently dominated by foreign institutional investors (FIIs). RBI has said that prospective reforms in the equity market need to focus on developing strong domestic institutional...

Making the Street safe for investors.
Byline: Santosh Nair MUMBAI: For someone used to walking into firestorms, the top job at the Securities and Exchange Board of India (SEBI) may have appeared less challenging than dealing with insurgents or restoring investor confidence in a scam-hit financial institution. But a few months...

PE firms eye UTI AMC stake.
Byline: Deepshikha Sikarwar NEW DELHI: Private equity firm Blackstone, Goldman Sachs, UBS, Citigroup, National Australian Bank and Shinsei Bank are likely bidders for an equity stake in India's oldest fund house - UTI Asset Management Company. Close to 25 overseas institutional investors have evinced interest...

UTI Bank share buy may extend SUUTI.
MUMBAI: The Specified Undertaking of the Unit Trust of India (SUUTI), which manages the assets and liabilities of the guaranteed return schemes of the erstwhile Unit Trust of India (UTI), may continue to exist beyond April 2009. SUUTI has purchased shares worth Rs 1,225 crore during UTI Bank's preferential...