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UTI AMC's wealth management solution
By Our Special Correspondent
MUMBAI,
MAY 6.
UTI Asset Management Company Pvt Ltd (UTI AMC) today announced the launch of `Axel', a wealth management solution for private clients. With a minimum investment threshold of Rs. 25 lakhs, `Axel' caters exclusively to corporates, trusts and high net worth individuals, comprising both resident and non-resident Indians.
To begin with, Axel is offering discretionary portfolio management services with two options. One, levies a fixed fee, for clients who want good returns on their investment but are looking at a low investment risk strategy, while, the other levies a lower fixed fee and a variable fee linked to the performance of the portfolio. This option is for clients expecting a high return and is looking at a high-risk investment strategy. "There has been a significant growth in wealth creation within India in the last few years, leading to a sizable and growing demand for wealth management services, said M. Damodaran, Chairman and Managing Director, UTI AMC, while launching axel here today.
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