Moneycontrol Presented by Motilal Oswal
Days hours minutes
Nerolac
Presented by :

Co-Presenting Sponsor :

Capital Trade

Powered by :

Godrej Properties

Associate Sponsors :

Aegon Life
LIC Housing Finance
Indiabulls
DHFL

Co-Presenting Sponsor

Capital Trade

Associate Sponsors

  • Indiabulls
  • Aegon Life
  • LIC Housing Finance
  • DHFL
May 08, 2012 06:34 PM IST | Source: Moneycontrol.com

UTI MF wants to sack CMO to revive dipping fortunes

The board of UTI Mutual Fund board sought the resignation of the fund's chief marketing officer (CMO), Jaideep Bhattacharya as it feels that Bhattacharya should resign to enable the fund house revive its dipping fortunes.

The UTI Mutual Fund board, which could not select a full-time chairman and managing director in the last 15 months, is now forcing upon itself another top-level vacancy. The board has now sought the resignation of the fund's chief marketing officer (CMO), Jaideep Bhattacharya. It feels that Bhattacharya should resign to enable the fund house revive its dipping fortunes. The assets under management (AUM) of the country's oldest mutual fund have shrunk as much as 10% between January 2011 and March 2012 during when the combined mutual fund industry lost just 1.6% assets. UTI MF's assets under management stood at Rs 58,922 crore as on March 31, 2012.

Sections
Follow us on
Available On