UTI MF plumps for ITC

FMCG giant ITC Ltd seems to be the new darling of UTI Mutual Fund, which has a corpus of around Rs 20,500 crore.

According to a recent disclosure, the total investment of UTI MF in ITC is around Rs 400 crore. It has invested in ITC through 24 schemes.

These are ULIP, Master Plus, Master Gain 92, US 92, Master Growth, Grand Master, US 2002, Mepus, GCGIP 94 etc.

"We have invested in ITC through various schemes ranging from pure growth to the mixed kind of schemes," a UTI fund manager said.

The disclosure is regarding the investment of UTI MF in those companies which have an exposure of more than 5 per cent in the net asset value of any scheme of the mutual fund. ITC is the sole representative of the corporate India in the list.

All others figured in the list are either banks or financial institutions. In case of ITC, the FMCG major has a big exposure in UTI Bond fund, a debt oriented scheme.

Besides, ITC the list includes outfits like Andhra bank, Bank of Baroda, Bank of India, IDBI, UTI Bank, Punjab National Bank, Oriental Bank of Commerce, IDBI Bank Ltd, LIC Housing Finance etc.

The biggest exposure of UTI MF among the banks and FIs is in IDBI. A whopping Rs 294 crore.

The investment in IDBI has been made through 12 schemes that include ULIP, CRTS, US 2002, US 95, Bond Fund, MMF etc.

On the other hand IDBI has high exposure in UTI Liquid Fund. LIC Housing Finance is second among the banks and FIs in terms of exposure of UTI MF.

UTI has an exposure of Rs 153 crore in LIC Housing Finance through 11 schemes.

These are Master Gain 92, UTI Mepus, MEP 98, MEP 99, UTI GSF Services etc. The only other bank in the category where UTI MF has an exposure of more than Rs 100 crore is UTI Bank.

UTI MF has an exposure of Rs 147 crore in UTI Bank.