Latest news with #UTIAMC
The Hindu
6 days ago
- Business
- The Hindu
Rupee strengthens 11 paise to close at 85.68 against U.S. dollar
The rupee pared initial losses and appreciated 11 paise to close at 85.68 (provisional) against the U.S. dollar on Friday (June 6, 2025), after the Reserve Bank cut the repo rate by a higher-than-expected 50 basis points to prop up growth. Forex traders said the rupee traded on a flat-to-positive note as the RBI surprised the market with a jumbo rate cut. Besides, the rate cut supported by a phased 100 basis points CRR reduction will lower the borrowing costs and boost growth. Moreover, a surge in the domestic markets supported the rupee at lower levels, with both the indices settling with gains of over 1%. At the interbank foreign exchange, the domestic unit witnessed heavy volatility. It opened at 85.91, registering a fall of 12 paise over its previous close. But soon pared the losses and saw an early high of 85.66 against the greenback. During Friday's (June 6, 2025) trade, the rupee also saw an intraday low of 86 and finally settled for the day at 85.68, up 11 paise over its previous close. On Thursday (June 5, 2025), the rupee snapped its two-day losing streak and closed 8 paise higher at 85.79 against the U.S. dollar. The RBI slashed the interest rate by 50 basis points on Friday (June 6, 2025), a third consecutive reduction, and unexpectedly reduced the cash reserve ratio (CRR) for banks to provide a major liquidity fillip to support the economy amid geopolitical and tariff headwinds. The central bank retained the GDP growth projection for the current fiscal year at 6.5%. It also changed its monetary policy stance to 'neutral' from 'accommodative', with Malhotra saying further action will depend on incoming data. 'The RBI policy decision today was pre-emptive and precise. The surprise CRR cut of 100bps despite a significantly high surplus liquidity signals a strong intent to fast-track transmission while the change in stance back to neutral reflects possible pause on future rate cuts,' Anurag Mittal, Head of Fixed Income at UTI AMC said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.25% at 98.98. Brent crude, the global oil benchmark, fell 0.26% to $65.17 per barrel in futures trade. 'Any further rate cut by the RBI may also pressurise the rupee. However, a positive tone in the domestic markets may support the domestic currency at lower levels. Investors may now focus on the non-farm payrolls report from the U.S. USD-INR spot price is expected to trade in a range of 85.40 to 86.25,' said Anuj Choudhary — Research Analyst at Mirae Asset Sharekhan. On the domestic equity market front, the 30-share benchmark index Sensex recovered the initial lost ground and closed 746.95 points, or 0.92% higher at 82,188.99, while the Nifty settled 252.15 points or 1.02% up at 25,003.05. Foreign institutional investors (FIIs) sold equities worth ₹208.47 crore on a net basis on Thursday (June 5, 2025), according to exchange data.
Business Mayor
01-05-2025
- Business
- Business Mayor
UTI Multi Cap Fund NFO is open for subscription. 8 things to know
'UTI Multi Cap Fund is built to help investors access the full spectrum of India's equity market through one well-structured portfolio. With disciplined exposure to large, mid, and small cap stocks, the fund seeks to offer a balance of risk and return. It's designed to dynamically adjust to different market phases and support long-term goals by combining quality businesses, recovery-led ideas, and sector opportunities,' said Karthikraj Lakshmanan, Fund Manager – UTI AMC.
Business Standard
30-04-2025
- Business
- Business Standard
UTI AMC slides as Q4 PAT tanks 46% to Rs 87 crore; declares dividend of Rs 48/sh
UTI Asset Management Company tumbled 2.30% to Rs 1,050.75 after the company's consolidated net profit tanked 46.26% to Rs 87.46 crore in Q4 FY25, compared with Rs 162.76 crore in Q4 FY24. Total revenue from operations fell 9.65% YoY to Rs 375.91 crore during the quarter. Profit before tax stood at Rs 154 crore in Q4 FY25, down by 29.34% from Rs 217.96 crore in Q4 FY24. The total assets under Management (AUM) for UTI Asset Management Company stood at Rs 21,05,349 crore. Equity assets (Active + Passive) contributed 69% to UTI MFs total average AUM. As on 31 March 2025, UTI MFs quarterly average assets under management (QAAUM) was Rs 3,39,750 crore. The ratio of equity-oriented QAAUM to non-equity-oriented QAAUM stood at 69:31, compared to the industry ratio of 60:40. The total number of live folios as of 31 March 2025 was 1.33 crore. Gross inflows mobilized through SIP for the quarter ended 31 March 2025 totaled Rs 2,215 crore. SIP AUM as of the quarter-end stood at Rs 37,591 crore, reflecting a growth of 22.26% compared to 31 March 2024. Digital purchase transactions increased to 49.71 lakh for the quarter ended 31 March 2025, marking a 42% rise compared to the same quarter in 2024. Imtaiyazur Rahman, managing director & chief executive officer, UTI AMC said, Financial Year 2025 has been an important one for UTI AMC in many aspects. The growth we witnessed reflects the resilience of our strategies and the confidence our investors have placed in us. We continue to have a strong hold in B30 cities vis-vis industry and to strengthen our presence further; we opened 68 new UTI Financial Centres across the length and breadth of the country. Another key milestone was the 25th anniversary of our Nifty 50 Index Fund, a testament to the trust our investors and stakeholders have in us. Considering the increased demand for diversification, we launched UTI Quant Fund in January 2025, followed by two additional passive funds, expanding our range of innovative investment solutions. We continue to offer competitive solutions to our investors and partners to make the most of the growth opportunities arising in this era of Viksit Bharat and create value for our stakeholders. The board of directors of the company has proposed a final dividend of Rs 26 per equity share and an additional special dividend of Rs 22 per equity share, taking overall final dividend to Rs 48 per equity share for financial year 2024-2025. The same is subject to the approval of shareholders at the ensuing annual general meeting. UTI Asset Management Company (UTI AMC) is Investment Manager to UTI Mutual Fund. It is incorporated under the Companies Act, 1956 and was approved to act as an Asset Management Company for UTI Mutual Fund by SEBI on 14th January 2003. UTI AMC is registered as Portfolio Manager with SEBI and through its subsidiary it acts as Fund manager for AIF, among others. It also has a countrywide network of branches along with a diversified distribution network.
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Business Standard
29-04-2025
- Business
- Business Standard
UTI Mutual Fund launches Multi Cap Fund: Here's all you need to know
UTI Multi Cap Fund: UTI Mutual Fund has launched its UTI Multi Cap Fund, an open-ended scheme investing across largecap, midcap, and smallcap segments. The new fund offer (NFO) opened for subscription on April 29, 2025, and will close on May 13, 2025. The scheme's performance is measured against the Nifty 500 Multicap 50:25:25 Total Return Index. The scheme aims to generate long-term capital appreciation by investing predominantly in equity and equity-related securities of companies across the market capitalization spectrum. However, there can be no assurance or guarantee that the investment objective of the scheme will be achieved. The scheme offers both regular and direct plans. Investors can invest a minimum amount of ₹1,000 and in multiples of ₹1 thereafter. The minimum subsequent investment amount will be ₹1,000 and in multiples of ₹1 thereafter. The minimum SIP amount for daily, weekly and monthly SIP (systematic investment plan) is ₹500 and in multiples of ₹1 thereafter. The minimum SIP amount for quarterly SIP is ₹1,500 and in multiples of ₹1 thereafter. According to the scheme information document (SID), if the units are redeemed or switched out within 90 days from the day of allotment, an exit load of 1 per cent will be charged. However, no exit load will be charged if units are redeemed after 90 days from the date of allotment. According to the riskometer, the principal invested in the scheme will be at very high risk. Karthikraj Lakshmanan serves as the designated fund manager for the scheme. Vetri Subramaniam, chief investment officer at UTI AMC, said that UTI Multi Cap Fund reflects the broader commitment to offering thoughtfully designed investment solutions that align with long-term wealth creation. "It is designed as an all-rounder investment solution that adapts to market cycles. It draws from our overall allocation philosophy and showcases the depth of our equity research capability across sectors and business cycles. We believe this is an effective addition for investors looking to build a core equity portfolio with strategic diversification,' he added. UTI Multi Cap Fund: Who should invest? According to the SID, the fund is suitable for investors seeking long-term capital appreciation and investments across large, midcap and smallcap stocks. However, investors should consult their financial advisers if in doubt about whether the product is suitable for them.
