UTI Asset Management to make 2 new fund offerings
Mumbai, June 5 (UNI) The UTI Asset Management Company is planning to make fund offerings for both domestic as well as overseas investors in the next three months.
Besides two new fund offerings targeted at the domestic market, plans were afoot to launch a US 200-300 million dollars offshore infrastructure fund through UTI International, an entity registered in the tax haven of the islands of Guernsey (The Channel Islands), the company said.
The company was expecting the regulatory approvals for the open-ended infrastructure fund by the end of July with an aim to garner USD 200-300 million. For this, it was targeting investors in Europe, Middle East and East Asia.
UTIAMC was also planning to launch two domestic funds -- a diversified close-ended equity fund and a gold-exchange traded fund in the coming months. The closed-ended diversified equity fund would be launched after SEBIs approval sometime in July.
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