The Hindu : Business : Ten IL&FS schemes in UTI Mutual Fund fold

Online edition of India's National Newspaper
Tuesday, Jul 06, 2004

Business

Business

Ten IL&FS schemes in UTI Mutual Fund fold

By Our Special Correspondent

MUMBAI, JULY 5. The UTI Mutual Fund today announced that consequent to its acquisition of IL&FS Mutual Fund, ten schemes of IL&FS Mutual Fund with assets under management (AUM) of over Rs. 1,800 crores have been transferred to UTI Mutual Fund with effect from July 5.

With this transfer UTI MF has further consolidated its leadership position in the Indian mutual fund with AUM crossing Rs. 20,000 crores.

The number of schemes under its product suite increases to 56 domestic schemes and four offshore funds. The UTI MF renamed the schemes that have come into its fold today:

IL&FS Bond Fund (UTI-Bond Advantage Fund), IL&FS Growth & Value Fund (UTI-Growth & Value Fund), IL&FS Global India Fund (UTI-India Advantage Equity Fund), IL&FS Fixed Maturity Plan (UTI-Fixed Maturity Plan), IL&FS Index Fund (UTI-Index Advantage Fund), IL&FS Liquid Account (UTI-Liquid Advantage Fund), IL&FS Gilt Fund (UTI-Gilt Advantage Fund), IL&FS Dynamic Equity Fund (UTI-Dynamic Equity Fund), L&FS Floating Rate Fund (UTI-Floating Rate Fund), IL&FS Monthly Income Plan (UTI-MIS-Advantage Plan).

A. K. Sridhar, CIO, UTI MF, said, "The investment style and high level of service standards established by IL&FS Mutual Fund will continue. UTI MF has richly rewarded its investors over the past one year."

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