UTI MF looks to bury the ghosts of the past as it finally goes public

The 3rd fund house to go public will succeed if legacy issues are put to rest; Industry insiders say that till now UTI has high brand recall in smaller cities, when investors consider a MF portfolio

After several episodes of boardroom stand-offs and a near court-room collision, the two-decade-old idea of listing of India's oldest mutual fund (MF) may be finally coming to fruition. The Securities and Exchange Board of India (Sebi) recently gave its approval to the initial public offering (IPO) papers filed by UTI Asset Management Company (AMC).

The ‘UTI’ brand has been synonymous with MF investing in India and continues to enjoy a strong brand value, especially in beyond the top-30 or B-30 cities. Industry insiders say until today, UTI has a high brand recall in smaller cities, when investors consider building an MF