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FAQ: Unit trust of india wikipedia?

What is meant by Unit Trust of India?

Unit Trust of India was first Set up in 1st February 1964 under the Unit Trust of India Act, 1963. It is a statutory public sector investment institution having the main objective to encourage and mobilize the savings of the community and canalize them into productive corporate investment.

Is Unit Trust of India a government company?

Unit Trust OF India Investment Advisory Services Limited is a Union Govt company , incorporated on 20 Jun, 1988. It’s a public unlisted company and is classified as’ company limited by shares’.

What happened to Unit Trust of India?

In February 2003, following the repeal of the Unit Trust of India Act 1963 UTI was bifurcated into two separate entities. 29,835 crores as at the end of January 2003, representing broadly, the assets of US 64 scheme, assured return and certain other schemes.

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When was Unit Trust of India established?

Can unit trust earn money?

Unit trust funds are professionally managed by fund managers. But, investing in unit trusts also means your funds are pooled together with other investors who have also bought units . Hence, any gains will be distributed among all the investors according to your investment amount.

How do I join unit trust?

EMPLOYEES Minimum of one form of valid identification — National ID card/driver’s permit/passport. Proof of address — Utility bill/bank statement. Original job letter OR pay slip — No older than one month for private sector employees and no older than two months for public sector employees.

Who is the CEO of UTI Mutual Fund?

Imtaiyazur Rahman is the Chief Executive Officer and the Whole-time Director of our Company. He is a Science graduate, Fellow of Institute of Cost Accountants of India, Fellow of Institute of Company Secretaries of India, Certified Public Accountant (USA) and GAMP (ISB-Kellog).

Which is the biggest mutual fund company in India?

1. SBI Mutual Fund

AUM (In crore) Number of Funds
373498.27 150

Who started the first mutual fund?

The concept of mutual funds was invented in Europe in early 1770s. During a bleak economic situation, Adriaan Van Ketwich, a Dutch merchant created the world’s first mutual fund in 1774. He pooled money from several individuals and created a diversified fund of bonds.

What are the advantages of unit trusts?

Benefits of Investing In Units Trust Diversification & Reduction of Risk. An investor’s risk exposure is reduced by way of diversification . Affordability. Access to Professionals. Flexibility. Exposure to Different Assets & Markets. Liquidity.

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Is AUM the same as NAV?

NAV shows what price shares in a fund can be bought and sold at. AUM by contrast refers to the value of assets managed by an individual or firm, not a fund. Unlike NAV , AUM is in reference to the total value of assets being managed rather than expressed on a per-share basis.

Who controls mutual funds in India?

Regulation. Mutual funds in India are regulated by the Securities and Exchange Board of India (SEBI).

Which is the first mutual fund in India?

The first introduction of a mutual fund in India occurred in 1963, when the Government of India launched Unit Trust of India ( UTI ).

Is UTI Mutual Fund Safe?

UTI Equity Fund is an average performer in the multi cap category. You may continue with the scheme if you have a moderate risk profile. Though you should always invest in equity mutual fund schemes with a long-term horizon, you should always keep track of their performance.

What is the new name of UTI mastergain 92?

UTI Mutual Fund has changed the name of UTI Mastergain to UTI Equity Fund with effect from July 1, 2005.

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