UTI to go slow on realty fund

UTI Mutual Fund (MF) plans to go slow on real estate mutual fund. The realty fund market already has players such as HDFC Venture and ICICI Venture.

"We are in no hurry to launch real estate fund. A lot of legal documentation is required to launch such a fund. Though the process to launch the fund is on, we have not yet filed the details with Securities and Exchange Board of India (Sebi) for approval," said Mohit Sachdev, country head, institutional sales and distribution channels, UTI Asset Management Company.