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Will discuss listing at our next board meet in a couple of weeks: Leo Puri

In Securities and Exchange Board of India’s (SEBI) last board meeting for 2017 on December 28, the market regulator has said that no entity can have stake in more than one mutual fund up to over 10 percent. One instance would be UTI Mutual Fund (MF) where State Bank of India (SBI), Bank of Baroda (BoB), Punjab National Bank (PNB), LIC, the sharehnolders, all have their own separate MF units.

January 01, 2018 / 17:23 IST
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In Securities and Exchange Board of India’s (SEBI) last board meeting for 2017 on December 28, the market regulator has said that no entity can have stake in more than one mutual fund up to over 10 percent. One instance would be UTI Mutual Fund (MF) where State Bank of India (SBI), Bank of Baroda (BoB), Punjab National Bank (PNB), LIC, the sharehnolders, all have their own separate MF units.

In an interview with CNBC-TV18, Leo Puri, Managing Director of UTI AMC shared his take on what is in-store for UTI MF in 2018.

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Cross holdings in AMCs have never been encouraged, he said.

Speaking on UTI’s listing, he said that the UTI AMC board has recommended to proceed down the path of listing. In 2008, Finance Ministry had given a formal approval for such a process to be initiated, but the markets were not supportive, he added.