Stating that the two funds offered limited options to customers, UTI Asset Management Company Fund Manager-Vice President Harsha Upadhyaya said the Top 100 Fund would give the combined benefits of the two funds."We launched the UTI Index Select Fund and UTI Master Growth fund having fund value of Rs 200 crore each. While Index Select Fund was focused in Nifty, Master Growth Fund was focused on Public Sector Undertakings. However, this Top 100 Fund would offer much flexibility to customers,"he told PTI.
He said due to the economic slowdown, the industry was not in"good position"last year. However, he expressed hope that the market would&aposrevive&aposin the next few months and this year should be much&aposbetter&aposas compared to last year.
The company launched the product on June one and has been conducting a nationwide marketing campaign for the new product across various cities, including New Delhi, Kolkata, Bangalore, Hyderabad.
At present, UTI AMC has 80 lakh investors and total assets of the company approximately stood at Rs 63,500 crore, he added.
My View: India has it's own long term growth story and it is intact besides ongoing recession. India & China are the only two countries still to continue the high growth rate of 5+. There are no signs of falling down of this growth number below 5. This is when most of the European countries and even United states are struggling to post even positive growth.
And so with the long term view on Top 100 companies in Indian stock market, UTI Top 100 mutual fund provides a good opportunity to be part of this growth story. Infact not only UTI Top 100 but any fund or investment that goes in top 100 companies of India would fetch good returns for investor. But this is strictly for long term investing.
A bit more about this fund.
Top 5 Reasons to Invest in UTI Top 100
1. It is an open-ended equity oriented scheme that is based on the principle of large cap investing.
2. Portfolio of Top 100 companies. Companies in the portfolio have the potential to withstand volatility and sustain through different market cycles.
3. To build a long term growth portfolio - large caps by their nature have a longer sustainable growth cycle.
4. "Star Fund House of the Year - Equity" award (ICRA) bestowed on UTI Mutual Fund is an evidence of UTI's fund management capability.
5. Whether you are a first time equity investor looking for a stable portfolio or a seasoned investor seeking exposure to a large market capitalisation stocks with growth cum value style of investing; this Fund is apt for you.
UTI Fund website for more info: http://www.utitop100fund.com/
Download the UTI Top 100 Mutual Fund presentation here
