UTI MF plans to launch products in international market

UTI MF plans to launch products in international market
PTI
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First Published: Mon, Sep 01 2008. 04 39 PM IST
Updated: Mon, Sep 01 2008. 04 39 PM IST
New Delhi: “Undeterred by choppy markets and deferring of public offer, UTI Mutual Fund (UTI MF) is looking for options to launch products across various geographies by the end of September,” a top official of the company said.
“As of now we are looking at options to launch products, including offers in international markets, and products of different asset-class. We are also working on launching socially responsible products,” UTI MF Chief Marketing Officer Jaideep Bhattacharya said.
“The fund house plans to launch various diversified products in the international markets,” he said, adding that the company would introduce products in the domestic product by the end of September modalities of which are being finalised.
At present, individual investors are allowed to invest around $200,000 in a year abroad and such investors want to diversify across various geographies which will benefit them. For such investors, Bhattacharya said: “UTI MF is planning to diversify in the international space.”
The fund house is exploring opportunities for investing money in the international market to benefit investors.
“Products of different asset-class are also expected to find attraction with investors across different geographies, so, the company is also looking for launching such products as well,” he added.
Socially responsible products are another area where the company is working on. It is likely to include products based on religious beliefs as the market currently has appetite for such funds, he said, adding that according to a survey done by the company, fixed-maturity plans have found favour with small investors.
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First Published: Mon, Sep 01 2008. 04 39 PM IST