Hem Securities has come out with its report on UTI Asset Management Company. The research firm has recommended to ''Subscribe'' the ipo in its research report as on September 29, 2020
Hem Securities IPO report on UTI Asset Management Company
Company is the second largest asset management company in India in terms of Total AUM and the eighth largest asset management company in India in terms of mutual fund QAAUM as of June 30, 2020. As of June 30, 2020 company also had the largest share of its monthly average AUM attributable to B30 cities of the top ten Indian asset management companies by QAAUM as of June 30, 2020. With 10.9 million Live Folios as March 31, 2020, company’s client base accounts for 12.2% of the approximately 89.7 million folios that were managed by the Indian mutual fund industry as of that date. Company’s list of clients includes individual investors, banks and other financial institutions, corporate and other institutional investors, trusts and NRIs., with the number of Live Folios increasing from 10.7 million as of March 31, 2018 to 10.9 million as of June 30, 2020.
Valuation and Outlook
Also valuation are looking reasonable at which company is bringing the issue. Therefore, we recommend “Subscribe” the issue.
For all IPO stories, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.