Holding cap may spur UTI AMC to list

As of September 2017, the AMC has assets of Rs 1.5 lakh crore, according to the Association of Mutual Funds in India (Amfi) data

The Securities and Exchange Board of India’s (Sebi’s) move to put a 10 per cent cross-shareholding cap in mutual funds may finally pave the way for UTI AMC to list itself on the bourses, provided the government gives its nod.

The market watchdog’s move is aimed at preventing a conflict of interest that may arise out of holding stakes in different mutual funds. Four large public sector financial institutions as sponsors — State Bank of India (SBI), Life Insurance Corporation of India, Bank of Baroda (BoB) and Punjab National Bank (PNB) — each own 18.29 per cent of the paid-up