AUM: South investors outpace North

Corners 30 per cent of UTI assets under management

South investors have displaced those in the North India by cornering almost 25 to 30 per cent of UTI assets under management (AUM) worth Rs 25,228 crore during the last one year.

Addressing a press conference at the launch of UTI-Leadership Equity Fund, A K Sridhar, chief investment officer, UTI AMC, said that Tamil Nadu, Andhra Pradesh and Kerala have been growing by 10 to 15 per cent as a result of the growth witnessed in the salary levels of software professionals.

Although the asset volume growth is seen in cities like Chennai, Bangalore and Hyderabad while rapid growth largely comes from smaller cities such as Vijayawada, Madurai, Trichur and Mangalore.

The company expects to ramp its distribution network from 60 to 100 branches by the end of 2006. In the next two months, UTI AMC will open offices in Tirunelveli, Mysore, and other places.

The UTI leadership equity fund is an open-ended equity oriented scheme. The scheme will invest in equity and equity related instruments of `leaders' to the extent of 65 to 100 per cent and 'potential leader' to the extent of 35 per cent. The scheme may also invest in debt and money market instruments to the extent of 10 per cent.