UTI Mutual Fund would be “very bullish” in the North-East market in the coming days to tap the “huge” opportunity the region offers. The company has already identified that low risk products, regular income products, debt products, systematic investment plans (SIPs), besides child products, will be the driving force for its business in North-East in near future. Speaking to Business Standard, Jaideep Bhattacharya, chief marketing officer of UTI Mutual Fund, said that North-Eastern market was one of its top 10 performing markets with regards to targets achieved and thus the company plans to further penetrate deep to tap the market better. “Guwahati is among the top 5 growing cities in the country today. So, we have ambitious plans in the region to tap the huge opportunity available here. Our main focus is on targeting more and more new customers in North-East,” said Bhattacharya.
Corroborating the patterns found in the study, Bhattacharya said that investment pattern in North-East was different from other parts of the country and people here are averse to risk. Also, people here, he said, invest in small amounts and children-plan products and regular income products were doing “very well”. “We have studied the market and already identified the products that suit the psyche of the people of North-East. We will be very bullish here in coming days,” he said. Since literacy levels in North-Eastern states were comparatively higher than many states, Bhattacharya said that “penetration of mutual fund into multiple other categories” would not be a problem too.