Page 17 - Banking Finance March 2019

MUTUAL FUND

Aditya Birla Sun Life Mu- Mutual funds garner over Rs 65,000 crore in Jan
The mutual fund industry added assets worth Rs 65,439 crore in January 2019,
tual Fund launches ABSL
taking total assets under management to Rs
Retirement Fun 23.37 lakh crore. Categories such as income, liq-
Aditya Birla Sun Life Mutual Fund has uid and equity funds saw positive inflows, while
launched balanced and gilt funds saw outflows.
Adi tya The number of SIP accounts increased by three
B i r l a lakh to Rs 2.56 crore. However, lump-sum invest-
Sun Life ments into mutual funds slowed down. Retail
Retire- assets, which include equity funds, balanced funds and ELSS funds, saw inflows
m e n t
F u n d , of Rs 5,206 crore, the slowest in the last 30 months since July 2016, when the
industry garnered Rs 4,585 crore.
an open-ended retirement solution-
oriented scheme. The fund has a “There has been a series of negative news flow from some very large corporates
lock-in period of minimum five years in the past one month, and these hurt investor sentiment,” said Neil Parikh, CEO,
or till retirement age, whichever is PPFAS, an asset manager.
earlier. The fund will help investors
to plan their retirement based on UTI Mutual Fund launches 'UTI MF Equity Yatra
their age and risk profile with four
asset allocation plans. UTI Mutual Fund has launched 'UTI MF Equity Yatra,' which aims to reach out
to over 10,000 financial intermediaries in 51
“Aditya Birla Sun Life Retirement cities across the country. UTI Mutual Fund
Fund provides investors an invest- will be targeting tier II and tier III cities in
ment solution to plan their retire-
Punjab, Rajasthan, Madhya Pradesh,
ment from as early as in their 30s to
Gujarat, Maharashtra, Goa, Karnataka,
factor in the rising cost of living. Effi- Kerala, Uttarakhand, Uttar Pradesh,Bihar,
cient retirement planning is ex-
tremely important to manage future West Bengal, Jharkhand, Odisha, Andhra
Pradesh,Tamil Nadu and North East.
expenses and an investment option
like this will help one spend the These intermediaries have access to around 1 crore investors in the country.
golden years of your life in peace,” During the ten days of 'UTI MF Equity Yatra' starting February 20, 15 Equity
said A Balasubramanian, CEO, Aditya Experts from UTI will tour the country, addressing the financial intermediaries
Birla Sun Life AMC. on UTI’s investment philosophy, research process, portfolio construction, mar-
ket outlook and trends in the mutual fund industry and seeking to reinforce their
The fund offers four investment op-
tions based on various age groups: belief in the role of equity class in creation of long term wealth for their
the 30s plan with 80-100 % of the investors.
corpus invested in equity and equity- 'UTI MF Equity Yatra' is a platform to explain concepts like ‘What the Fund
related instruments and the rest in Managers do?’ and their approach to wealth creation, and bringing transpar-
debt and money market instruments. ency about their investment processes. The ‘Equity Yatra’ is an effort of the fund
The 40s plan has a flexible equity house to increase its engagement with the financial intermediaries and through
exposure between 65- 80% and the them to reach out to investors who need guidance at the time of market
50s plan has a flexible debt exposure volatility.
in the range of 75-100%. Moreover,
Imtaiyazur Rahman, Acting CEO of UTI AMC, said, “UTI believes in democratising
there is a 50s Plus debt plan for those
access to the prosperity of capital market so that a common investor of the coun-
nearing retirement age, which in-
try can benefit from the growth of the economy. This can happen by spreading
vests up to 100% in debt and money
knowledge on Investments through investor education and also with the help of
market instruments.
financial intermediaries.”
BANKING FINANCE | MARCH | 2019 | 17