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

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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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