Interim Management Committee appointed at UTI Mutual Fund

Pursuant to the appointment of Mr. U K Sinha as Chairman of Securities & Exchange Board of India, the Shareholders and the Board of Directors of UTI AMC have appointed an Executive Search Firm to identify a suitable candidate to head the Company. The Firm will look at both internal and external candidates. The process is expected to be concluded at the earliest.

In the interim period, to run the day to day affairs of UTI Mutual Fund, a four member committee has been formed. The members of the committee are Mr Jaideep Bhattacharya, Chief Marketing Officer, UTI AMC, Mr I Rahman, Chief Finance Officer, UTI AMC, Mr Anoop Bhaskar, Head-Equity, UTI AMC and Mr Amandeep Chopra, Head of Fixed Income, UTI AMC. The committee will work under over-all guidance of the Committee of Directors and of the Board of the Company.

About UTI Mutual Fund
UTI Mutual Fund is a SEBI registered mutual fund whose Sponsors are State Bank of India, Punjab National Bank, Bank of   Baroda   and  Life  Insurance  Corporation of  India.

UTI Mutual Fund has assets under management (average) of Rs.65387.25 crore and investor accounts of around1 crore under its 81 domestic schemes (Quarter ended December 31, 2010).