Financial Daily from THE HINDU group of publications
Tuesday, Jul 06, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jul 06, 2004 |
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Mutual Funds Markets - Mutual Funds 10 IL&FS MF schemes transferred to UTI MF Our Bureau
Mumbai , July 5 UTI Mutual Fund on Monday announced that 10 schemes of IL&FS Mutual Fund with assets under management (AUM) of over Rs 1,800 crore have been transferred to UTI Mutual Fund with effect from July 5. This is consequent to UTI MF's acquisition of the schemes of IL&FS Asset Management Company. The number of schemes under its product suite now increases to 56 domestic schemes and four offshore funds and assets under management exceed Rs 20,000 crore, according to a company press release. Over 65,000 institutional, high net worth and retail investors of IL&FS Mutual Fund have now moved to UTI MF. The acquirer has also confirmed that UTI MF has retained 16 employees of IL&FS AMC. UTI MF is renaming the schemes that have come into its fold today.
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