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Nilanjan Dey

Kolkata , Sept. 20

UTI Mutual Fund has revived its Chairman's Club, a programme abandoned a few years ago, as part of its strategy to empower performers.

The fund house, a No. 1 player in the asset management space in terms of size, is also taking up a number of new marketing initiatives, including strengthening its tie-ups with distribution outfits.

UTI MF, said Mr Jaideep Bhattacharya, Chief Marketing Officer, will utilise the concept of the Chairman's Club to reinforce its distribution strengths. The Club will include performers who have been identified by the management for their efforts. The entire exercise is aimed at creating more value for customers, he added.

`Revival necessary'

The earlier Chairman's Club was also essentially a relation-building programme, which the MF feels will be of some significance now. The latter is marked by severe competition among asset management companies, all of which try hard to shore up their assets.

"We are now of the view that its revival is necessary," Mr Bhattacharya observed, hoping that the Club will in future shape up into a more potent element in the entire UTI MF fraternity.

Similar clubs have been in vogue elsewhere in the financial services sector, especially in the insurance industry. The life insurance segment, for instance, has seen Chairman's Club members reach a certain professional stature. As for mutual funds, various asset management firms follow practices of their own in order to recognise the efforts put in by their distributors.

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