UTI AMC - Valuations Trailing Business Recovery: ICICI Securities Initiates Coverage
A man with an umbrella walks into the Unit Trust of India Tower in Mumbai. (Photographer: Adeel Halim/Bloomberg)

UTI AMC - Valuations Trailing Business Recovery: ICICI Securities Initiates Coverage

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UTI Asset Management Company Ltd.’s predecessor Unit Trust of India is a pioneer and one of the oldest brands in India’s mutual fund industry with a heritage of more than 55 years.

Currently, with a 5.6% share of total asset under management in India in nine months FY21, it ranks eighth in the mutual fund industry.

The company has lost equity AUM market share from 8.7% in FY15 to 4.6% in nine months FY21 and its debt AUM market share from 7.7% to 4% in the same timeframe.

This has resulted in its average asset under management remaining stagnant at ~Rs 1.5-1.6 trillion as at December 2020, but overall revenue yield declining from 57 basis points in FY18 to 47bps in FY20.

Click on the attachment to read the full report:

ICICI Securities UTI AMC IC .pdf

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