Tamil Nadu

UTI centre opened

— Photo: M. Balaji

Good start: A Sakthivel, president of Tirupur Exporters Association, inaugurating the new financial centre of UTI Mutual Fund by handing over the first application of an investor to T. Mani (second left), Chief Manager, UTI financial centre, in Tirupur on Monday.

Tirupur: The 99th financial centre of United Trust of India Mutual Fund (UTI- MF) was inaugurated by Tirupur Exporters Association president A. Sakthivel on Monday.

R. Vijayakumar, regional head (retail), UTI Asset Management Company Limited, told The Hindu that the new centre would offer entire product portfolio of the company to the investors in Tirupur, Erode and Karur areas.

Mr. Vijayakumar said that to widen the coverage to investors, 100 more financial centres were planned across the country before the end of the next financial year (2009-10).

Regarding other plans, he said steps would be taken to improve the assets under management in Tirupur belt from present Rs. 50 crore to Rs. 100 crore before the end of this fiscal.

“At the national level, UTI Mutual Fund has assets under management of Rs 46,947.32 crore and investor accounts of over 9.5 million under its 95 domestic schemes, as on August 31,” he added.

For effective customer care, the company had set up 309 chief representative offices, 160 chief agents, 99 financial centres and appointed 33,500 Association of Mutual Funds in India (AMFI)-certified financial advisors.

K. Petchiappan, Assistant General Manager, State Bank of India, and T. Mani, Chief Manager, UTI Mutual Fund, Tirupur financial centre, among others, were present.

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