UTI Mutual Fund has been awarded the “STAR FUND HOUSE OF THE YEAR” by ICRA Mutual Fund Awards 2009 in the Equity Category. The rank indicates ‘Best Performance’ in the ‘Equity Category’ for one year period ending December 31, 2008. Out of 24 Mutual fund houses, UTI Mutual Fund has been ranked as the “Star Fund House of the Year” in the equity category.
UTI Mutual Fund has been awarded NINE ICRA Mutual Fund Awards 2009 under its various schemes viz. UTI Contra Fund, UTI Nifty Fund (1 year and 3 years), UTI MNC Fund, UTI Floating Rate Fund-Short Term, UTI Money Market Fund, UTI Dividend Yield Fund, UTI Equity Fund and UTI Opportunities Fund. The details of the awards are enumerated below:
UTI- Contra Fund has been ranked ‘A Seven Star Fund’ by ICRA/ICRA online and has been awarded the Gold Award for 'Best Performance' in the category of 'Open Ended Diversified Equity-Defensive ' for one year period ending December 31, 2008. The award for UTI- Contra Fund indicates the Best Performance within the stated category, which had a total of 62 similar schemes, including this scheme.
UTI- Nifty Index Fund has been ranked ‘A Seven Star Fund’ by ICRA/ICRA online and has been awarded the Gold Award for 'Best Performance' in the category of 'Open Ended Equity Index ' for one year period ending December 31, 2008. The award for UTI- Nifty Index Fund indicates the Best Performance within the stated category, which had a total of 13 similar schemes, including this scheme.
UTI- Nifty Index Fund has also been ranked ‘A Seven Star Fund’ by ICRA/ICRA online and has been awarded the Gold Award for 'Best Performance' in the category of 'Open Ended Equity Index ' for three year period ending December 31, 2008. The award for UTI- Nifty Index Fund indicates the Best Performance within the stated category, which had a total of 13 similar schemes, including this scheme.
UTI- MNC Fund has been ranked ‘A Seven Star Fund’ by ICRA/ICRA online and has been awarded the Gold Award for 'Best Performance' in the category of 'Open Ended Diversified Equity- Aggressive ' for one year period ending December 31, 2008. The award for UTI- MNC Fund indicates the Best Performance within the stated category, which had a total of 51 similar schemes, including this scheme.
UTI- Floating Rate Fund-Short Term has been ranked ‘A Seven Star Fund’ by ICRA/ICRA online and has been awarded the Gold Award for 'Best Performance' in the category of 'Open Ended Floating Rate Fund ' for one year period ending December 31, 2008. The award for UTI- Floating Rate Fund-Short Term indicates the Best Performance within the stated category, which had a total of 20 similar schemes, including this scheme.
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UTI- Money Market Fund has been ranked ‘A Seven Star Fund’ by ICRA/ICRA online and has been awarded the Gold Award for 'Best Performance' in the category of 'Open Ended Liquid ' for three years period ending December 31, 2008. The award for UTI- Money Market Fund indicates the Best Performance within the stated category, which had a total of 6 similar schemes, including this scheme.
UTI- Dividend Yield Fund has been ranked ‘A Five Star Fund’ by ICRA/ICRA online indicating performance among the top 10% in the category of 'Open Ended Diversified Equity -Aggressive' for one year period ending December 31, 2008. The award for UTI- Dividend Yield Fund indicates Performance within the stated category, which had a total of 51 similar schemes, including this scheme.
UTI- Equity Fund has been ranked ‘A Five Star Fund’ by ICRA/ICRA online indicating performance among the top 10% in the category of 'Open Ended Diversified Equity -Defensive ' for one year period ending December 31, 2008. The award for UTI- Equity Fund indicates Performance within the stated category, which had a total of 62 similar schemes, including this scheme
UTI- Opportunities Fund has been ranked ‘A Five Star Fund’ by ICRA/ICRA online indicating performance among the top 10% in the category of 'Open Ended Diversified Equity -Defensive ' for one year period ending December 31, 2008. The award for UTI- Opportunities Fund indicates Performance within the stated category, which had a total of 62 similar schemes, including this scheme.
On the occasion Mr. U K Sinha, Chairman and Managing Director, UTI Asset Management Company Ltd., said, “This is a result of the structural and process changes that we had initiated around 2 years back. The efforts of UTI fund management team has culminated in UTI Mutual Fund winning the Star Fund House of the Year award in the Equity Category. UTI Mutual Fund is a process oriented fund house which strives to give its investors the best possible returns. Recently UTI Mutual Fund has also won the Outlook Money NDTV Awards 2008 for the Best Debt Fund House for the year ended June 30, 2008.”
Methodology
ICRA Mutual Fund (MF) Awards are based on the proprietary ranking methodology devised jointly by ICRA and ICRA Online Ltd. The ranking process considers only growth oriented open ended equity and debt schemes apart from liquid schemes where Institutional plans are also considered.
The basic eligibility criteria is based on the Average category AUM, and stringent disclosure norms for portfolio and NAV over one and three year periods. The ranking methodology dynamically factors in the actual investment pattern rather than on the scheme’s stated objectives.
The scoring model for the final ranking, factors norms for Risk-adjusted returns, Average Maturity, AUM size, Liquidity analysis, Portfolio turnover ratio, Concentration analysis
The rankings are conducted for 26 different categories over the one-year and three-year horizon. Schemes are assigned 1- star, 2- star, 3- star, 4-star and 5- star based on a ranking scale. The best scorer amongst the 5- star in a category is ranked as 7- star or the best fund in the category. This is however subject to the fund’s AUM being of at least more than 100 Cr or greater than the category average; whichever is lower.
Disclaimer
The rank assigned by ICRA Limited (ICRA)/ICRA Online Limited (ICRA Online) is based on an objective analysis of information obtained from sources considered reliable by ICRA/ICRA Online. However, the rank must be construed solely as a statement of opinion and ICRA/ICRA Online shall not be liable for any losses incurred by anyone from any use of the rank. Also, the rank is neither a certificate of any statutory compliance nor any guarantee on the future performance of the ranked entity / scheme. The ranking methodology does not take into account entry and exit loads imposed by the Fund.
Ranking Source & Publisher: ICRA Online Ltd.
About UTI Mutual Fund
UTI Mutual Fund is a SEBI registered mutual fund whose Sponsors are State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India.
UTI Mutual Fund has assets under management (average) of Rs.46161.40 crore and investor accounts of over 9.60 million under its 98 domestic schemes (as of January 31, 2009).