UTI MF expects volatile markets for two months

Kolkata, Jun 24 (UNI) UTI MF today said it is expecting the capital markets to remain volatile for at least two months now.

"The markets are expected to remain volatile for the next two months and then stabilise. Higher interest rates, inflation and a feeling that valuations are not cheap has led to the volatility," UTI MF executive director A K Sridhar told reporters here.

UTI MF is exploring investment opportunities in the banking, cement and telecom sector even at the current valuations, Sridhar said in the sidelines of a seminar on capital markets by Bharat Chamber of Commerce.

UTI MF has sought approval for a Gold Exchange Traded Fund and a close ended fund, he said.

He said despite the volatility in the markets, UTI MF received positive inflows of Rs 160 crore from May 11 till now.

The Dividend Yield Fund, the infrastructure funds and petro-funds attracted majority of the positive inflows, he said.

The UTI Spread Fund mopped up Rs 400 crore of funds, he said.

UTI MF has Rs 31,580 crore of assets under its management at present, Sridhar added.

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