While accepting a three-tier structure, the Unit Trust of India is likely to go in for one asset management company to manage all its schemes, as recommended by the Malegam Committee.
The Tarapore Committee, on the other hand, had recommended three separate asset management companies for the US 64 scheme, income schemes and growth schemes be set up by July 1, 2003. While the Centre has set up another committee to examine the recommendations as a prelude to the amendment of the UTI Act, the trust feels that the changes will be more in line with the recommendations of the Malegam Committee.
In a presentation to the joint parliamentary committee (JPC) investigating last year
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