|
Report Date : |
21.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
UTI ASSET MANAGEMENT COMPANY LIMITED (w.e.f. 14.11.2011) |
|
|
|
|
Formerly Known
As : |
UTI ASSET MANAGEMENT COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Ground Floor, UTI Tower, GN Block, Banrda Kurla Complex, Bandra (East),
Mumbai - 400 051, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
14.11.2002 |
|
|
|
|
Com. Reg. No.: |
11-137867 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1250.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65991MH2002GOI137867 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPU01326D / MUMU03355C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU6260F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in the investment management business and providing wealth management services. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (70) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 42000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. Financial position of the company appears to be strong. Over all
fundamentals of the company appears to be sound and healthy. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered for business dealings at usual trade terms
and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Liquid Fund – Cash Plan : A1 + mfs |
|
Rating Explanation |
Very strong degree of safety regarding
timely receipts of payments. |
|
Date |
July, 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
Management Non Co-Operative. (Tel No.: 91-22-66786666)
LOCATIONS
|
Registered Office : |
Ground Floor, UTI Tower, GN Block, Banrda Kurla Complex, Bandra
(East), Mumbai-400051, Maharashtra, India |
|
Tel. No.: |
91-22-66786354 / 6101 / 66786666 / 6793 / 66786424 |
|
Mobile No.: |
91-9892900946 (Ms. Khurshid Mistry) |
|
Fax No.: |
91-22-66786326 / 26528991 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Located at ·
Andhra Pradesh ·
Assam ·
Bihar ·
Chandighar ·
Delhi ·
Goa ·
Gujarat ·
Harahan ·
Himachal Pradesh ·
Jammu and Kashmir ·
Jharkhand ·
Karnataka ·
Kerala ·
Madhya Pradesh ·
Maharashtra ·
Meghalaya ·
Orissa ·
Punjab ·
Rajasthan ·
Tamil Nadu ·
Tripura ·
Uttar Pradesh ·
Uttarakhand ·
West Bengal |
DIRECTORS
As on 25.07.2013
|
Name : |
Mr. Prithvi Raj Khanna |
|
Designation : |
Director |
|
Address : |
70, Sundar Nagar, New Delhi-110003, India |
|
Date of Birth/Age : |
02.07.1933 |
|
Qualification : |
B.Com. (Hons.) from Delhi University and a fellow member of Institute of Chartered Accountants of India |
|
Date of Appointment : |
13.01.2006 |
|
DIN No.: |
00048800 |
|
|
|
|
Name : |
Mr. Pudugramam Narayanaswamy Venkatachalam |
|
Designation : |
Director |
|
Address : |
3c, Settlur Manor, 2 Sivaswamy Street (Behind Axis Bank), Off Dr. Radhakrishnan Salai, Mylapore, Chennai-600004, Tamilnadu, India |
|
Date of Birth/Age : |
22.03.1944 |
|
Qualification : |
MA(ECO), CAIIB |
|
Date of Appointment : |
05.01.2012 |
|
DIN No.: |
00499442 |
|
|
|
|
Name : |
Mr. Flemming Madsen |
|
Designation : |
Director |
|
Address : |
10 Spring Forest Court, Ownings Mills, Maryland 21117, USA |
|
Date of Birth/Age : |
12.08.1965 |
|
Qualification : |
Finished first half of the business program "HD" at Copenhagen Business School, which includes Economic Mathematics, Business Law and Finance |
|
Date of Appointment : |
20.01.2010 |
|
DIN No.: |
02904543 |
|
|
|
|
Name : |
Mr. James Sellers Riepe |
|
Designation : |
Director |
|
Address : |
1330, Western Run Road, Cockeysville, Maryland 21030, USA |
|
Date of Birth/Age : |
25.06.1943 |
|
Qualification : |
Bachelor in Science in Economics - University of Pennsylvania, MBA - University of Pennsylvania |
|
Date of Appointment : |
20.01.2010 |
|
DIN No.: |
02904546 |
|
|
|
|
Name : |
Mr. Sachit Jain |
|
Designation : |
Director |
|
Address : |
Auro Mirra Bhawan, 2722, Gurdec Nagar, Pakhowal Road, Ludhiana-141001, Punjab, India |
|
Date of Birth/Age : |
08.07.1966 |
|
Qualification : |
Electrical Engineering degree from IIT, New Delhi, Management degree from IIM, Ahmedabad and Financial Management at Standford |
|
Date of Appointment : |
20.01.2010 |
|
DIN No.: |
00746409 |
|
|
|
|
Name : |
Mr. Pradeep Gupta |
|
Designation : |
Director |
|
Address : |
D-74, Panchsheel Enclave, New Delhi-110017, India |
|
Date of Birth/Age : |
08.03.1955 |
|
Qualification : |
Engineer from IIT Delhi and an MBA from IIM, Calcutta |
|
Date of Appointment : |
20.01.2010 |
|
DIN No.: |
00007520 |
|
|
|
|
Name : |
Mr. Venkata Suryanarayana Malakapalli |
|
Designation : |
Director |
|
Address : |
12-2-417/A/II Gudimalkapur, Jaya Nagar, Hyderabad, - 500028, Andhra Pradesh, India |
|
Date of Birth/Age : |
05.04.1946 |
|
Date of Appointment : |
19.07.2012 |
|
DIN No.: |
00372812 |
KEY EXECUTIVES
|
Name : |
Mr. Kiran Narendra Vohra |
|
Designation : |
Secretary |
|
Address : |
G-101, Settelit Garden I, Gen A K Vaidya Marg, Goregaon East, Mumbai-400063,
Maharashtra, India |
|
Date of Birth/Age : |
11.04.1962 |
|
Date of Appointment : |
25.04.2012 |
|
PAN No.: |
AAAPV8125F |
|
|
|
|
Name : |
Mr. S C Dikshit |
|
Designation : |
President |
|
|
|
|
Name : |
Mrs. Swati A Kulkarni |
|
Designation : |
Vice President |
|
|
|
|
Name : |
Mr. Sanjay R Dongre |
|
Designation : |
Senior Vice President |
|
|
|
|
Name : |
Mr. Amandeep S Chopra |
|
Designation : |
President |
|
|
|
|
Name : |
Mr. Ajay Tyagi |
|
Designation : |
Assistant Vice President |
|
|
|
|
Name : |
Mr. Imtaiyazur Rahman |
|
Designation : |
Acting Chief Executive Officer |
MAJOR SHAREHOLDERS
As on 25.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
State Bank of India |
|
23093750 |
|
Life Insurance Corporation of India |
|
23124999 |
|
Bank of Baroda |
|
23093750 |
|
Punjab National Bank |
|
23125000 |
|
T. Rowe Price Global Investment Services Limited |
|
32500000 |
|
Shri Shyamal Acharya (Nominee of State Bank of India) |
|
31250 |
|
Shri ADM Chavali (Nominee of Bank of Baroda) |
|
31250 |
|
Shri Pravin Hari Kutumbe s/o Shri Hari Narayan Kutumbe (Nominee of LIC) |
|
1 |
|
Total |
|
125000000 |
Equity Share Break up (Percentage of Total Equity)
As on 25.07.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others |
26.00 |
|
Public financial companies |
18.50 |
|
Nationalised or other banks |
55.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the investment management business and providing wealth management services. |
||||
|
|
|
||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chhajed and Doshi Chartered Accountants |
|
Address : |
5/6 Western Prabhadevi C H S, Veer Savarkar Marg, Prabhadevi,
Mumbai – 400025, Maharashtra, India |
|
PAN No.: |
AAAFC3606J |
|
|
|
|
Subsidiaries : |
· UTI Venture Funds Management Company Private Limited CIN No.: U65991KA2001PTC028827 · UTI International Limited · UTI Retirement Solutions Limited CIN No.:U66020MH2007GOI176785 · UTI Capital Private Limited CIN No.:U65900MH2011PTC217430 · UTI International Private Limited · UTI Investment Management Company, Mauritius · UTI Private Equity Advisors (UPEA) |
|
|
|
|
Others Related
Parties: |
· Life Insurance Corporation of India · State Bank of India · Bank of Baroda · Punjab National Bank · T Rowe Price International Limited · UTI Mutual Fund · India Infrastructure Development Fund · ASCENT India Fund III · ASCENT India Fund |
CAPITAL STRUCTURE
As on 25.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs.2000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
Rs.10/- each |
Rs.1250.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1250.000 |
1250.000 |
1250.000 |
|
(b) Reserves & Surplus |
9211.400 |
8189.200 |
7239.690 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
10461.400 |
9439.200 |
8489.690 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
241.200 |
186.300 |
154.970 |
|
(c) Other long term liabilities |
970.200 |
847.100 |
904.140 |
|
(d) long-term provisions |
6.600 |
6.600 |
6.600 |
|
Total Non-current Liabilities (3) |
1218.000 |
1040.000 |
1065.710 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
52.400 |
42.400 |
49.560 |
|
(c) Other current
liabilities |
449.900 |
393.600 |
500.940 |
|
(d) Short-term provisions |
531.600 |
481.100 |
548.000 |
|
Total Current Liabilities (4) |
1033.900 |
917.100 |
1098.500 |
|
|
|
|
|
|
TOTAL |
12713.300 |
11396.300 |
10653.900 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1912.200 |
1955.900 |
2010.600 |
|
(ii) Intangible Assets |
8.000 |
12.800 |
18.700 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4529.200 |
2791.100 |
1727.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1465.900 |
1344.900 |
1331.890 |
|
(e) Other Non-current assets |
203.500 |
202.500 |
201.500 |
|
Total Non-Current Assets |
8118.800 |
6307.200 |
5289.790 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
4250.300 |
4912.7007 |
5132.350 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
64.900 |
60.100 |
38.200 |
|
(d) Cash and cash
equivalents |
59.800 |
6.500 |
12.460 |
|
(e) Short-term loans and
advances |
110.900 |
91.500 |
162.620 |
|
(f) Other current assets |
108.600 |
18.300 |
18.480 |
|
Total Current Assets |
4594.500 |
5089.100 |
5364.110 |
|
|
|
|
|
|
TOTAL |
12713.300 |
11396.300 |
10653.900 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
4278.100 |
3883.800 |
4204.030 |
|
|
|
|
Other Income |
652.300 |
591.300 |
401.700 |
|
|
|
|
TOTAL (A) |
4930.400 |
4475.100 |
4605.730 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Employee benefit expense |
1612.600 |
1485.500 |
1508.700 |
|
|
|
|
Other expenses |
1170.300 |
1095.000 |
1077.200 |
|
|
|
|
Prior period items |
9.500 |
5.300 |
(8.800) |
|
|
|
|
TOTAL (B) |
2792.400 |
2585.800 |
2577.100 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2138.000 |
1889.300 |
2028.630 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.040 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
2138.000 |
1889.300 |
2028.590 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
71.600 |
80.400 |
77.660 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G)
|
2066.400 |
1808.900 |
1950.930 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
577.400 |
468.000 |
575.910 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
1489.000 |
1340.900 |
1375.020 |
||
|
|
|
|
|
|
||
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7203.660 |
6388.300 |
5534.100 |
||
|
|
|
|
|
|
||
|
|
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
NA |
134.100 |
137.500 |
|
|
|
|
Dividend |
NA |
343.800 |
343.800 |
|
|
|
|
Tax on Dividend |
NA |
47.640 |
39.500 |
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
7203.660 |
6388.300 |
||
|
|
|
|
|
|
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
11.90 |
10.70 |
11.00 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
30.20 |
29.96 |
29.85 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
48.30 |
46.58 |
46.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
25.25 |
21.02 |
21.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.19 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.44 |
5.55 |
4.88 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS NOT AVAILABLE
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS:
|
CASE DETAILS Bench:-Bombay
District:- MUMBAI Bench:- DIVISION Status:- Admitted(Unready) Category:- WRIT PETITION(SERVICE
MATTER) Coram:- HON'BLE SHRI JUSTICE V.M. KANADE
HON'BLE SHRI JUSTICE GIRISH S. KULKARNI Last Date:- 24/11/2011
Stage:- FOR
DIRECTION [ORIGINAL SIDE MATTERS] Last Coram:- HON'BLE SHRI JUSTICE D.B.BHOSALE HON'BLE
SHRI JUSTICE K.K. TATED Act :- Pension Act |
DOMESTIC
MUTUAL FUND BUSINESS
As of
March 31, 2013 UTI Mutual Fund had 91 schemes in operation with Average Asset Under
Management (AAUM) at 694.50 billion as against Rs. 589.22 billion in the
previous year.
Of the
91 Schemes/Plans offered by the UTI-MF, 25 were equity funds; 57 were debt
funds; 2 were liquid and short-term funds; and 7 were balanced/hybrid funds. During
the period, 30 Schemes (29 Income Fund and 1 Equity Fund) were launched which
mobilised funds amounting to Rs.57.94 billion. On the other hand, 30 debt
schemes matured or were terminated. The total dividend paid out by all the
schemes during the financial year 2012-13 was Rs. 17.95 billion.
The
objective of the fund management in UTI Mutual Fund is to deliver stable and
consistent returns in the medium to long term, with a fairly lower level of
volatility compared to the broader market. Rigorous in-house research, a
process-based approach to investment management, and a focus on asset
allocation and sector selection along with stock selection, are undertaken in
the endeavour to consistently remain in the top quartile of the peer group of
funds.
OFFSHORE
FUNDS
The
AUM of Offshore Funds amounted to Rs.9895.800 millions as on March 31, 2013.
PORTFOLIO
MANAGEMENT SERVICES – AXEL
UTI
PMS division had Assets under Management / Advise amounting to Rs. 108312.500
millions as on March 31, 2013. UTI PMS has 569 active clients which include
High Net worth Individuals, Corporates, Institutions, Government Organizations
and Overseas Investors. The PMS Division has been growing well over the last
few years and established a good track record in terms of performance and
diversification of opportunities. This Division aims to provide its clients
with investment solutions commensurate with their risk profiles and their
return expectations, using research-based valuation and security selection
techniques. PMS offers discretionary and research-based advisory services.
MICRO
PENSION INITIATIVE
UTI
AMC is managing small pension contribution of employees of 37 institutions.
Total number of investors enrolled is 543558 and the AUM as on March 2013 was Rs.
591.300 millions. The contribution of the employees is invested in the UTI
Retirement Benefit Pension Fund under the Micro-Pension Initiative of UTI AMC.
INVESTOR
REACH AND DISTRIBUTION
As on
31st March, 2013, UTI MF had 9.80 million investor folios. UTI Mutual Fund has
always been proactive in its communication with its investors on announcements,
services etc. through various mediums.
NEW
INITIATIVE
BRAND
/ INVESTOR EDUCATION
Internal
Employee Communication: With the intention to sensitise the nuances
of the brand amongst the employees at large, UTI MF launched a series of
fort-nightly mailers on the theme– Let’s Give our Brand a Stronger Identity.
Internal
Department Branding: With the objective of driving a
department wise internal branding and to create a feeling of rejuvenation and
ownership UTI MF launched an internal branding exercise across the following
departments – Human Resource, Fund Management and Financial advisor awards is a pioneering initiative
launched by UTI MF in partnership with CNBC TV 18 which recognizes the critical
role the financial advisors play in wealth creation. These definitive awards
recognize the best financial advisors across the country and acknowledge their
contribution towards creating wealth and distributing expert and productive
financial advice. The awards have received the Limca Book of Record for being
the Biggest Business Award.
In its
current edition (4 th) 2 new awards category namely Wealth Distributors and the
Women Independent Financial Advisor have been introduced.
Times
of India (TOI) Swatantra -an Investor Education initiative
launched by UTI MF in association with Ministry of Corporate Affairs and
content powered by Times of India. A first of its kind, this initiative helps
to educate the Indian Investors at large on nuances of Financial Planning. The
TOI Swatantra a dedicated weekly page that is published every Tuesday,
encompasses various aspects/concepts of financial planning and benefits of
investing in Mutual Funds to achieve the life-stage goals of investors. In its
current series (2 nd) the content and layout has been refreshed to ensure both
newness better recall. The following new sections have been introduced –
Guruspeak, Mythbusters, articles by Individual Financial Advisor’s and the introduction
of the character “Swatantra kumar”.
Myth
Busters: As an outcome of the Ipsos research, a series of myth buster
communication were created and sent to Intermediaries and UTI Financial
Centres. This is also a part of our endeavor to leverage the Investor Education
platform.
Corporate
Brochure and Folders: With the objective of creating
differentiated collaterals, corporate brochures and folders customized for the
institutional, banking, retail and distribution channel.
NOTE: NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
· Buildings
· Office building
· Plant and equipment
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Other equipment
· Computer software
PRESS RELEASE
UTI DIVIDEND YIELD FUND DECLARES TAX-FREE DIVIDEND OF 4.5%
UTI Dividend Yield Fund declares tax-free dividend of 4.5%
(Re.0.45 per unit on face value of Rs. 10 under
dividend option-existing plan and dividend option –direct plan. Pursuant to the
payment of dividend, the NAV of the dividend option-existing plan and dividend
option-direct plan of the scheme would fall to the extent of payout.
The record date for the dividend is January 14, 2014.
All unit holders registered under the dividend option-existing plan and
dividend option- direct plan of UTI Dividend Yield Fund as on the record date
will be eligible for this dividend. Also investors who join the dividend option
-existing plan and dividend option-direct plan of the scheme on or before the
cut off time of the record date will be eligible for the dividend.
The NAV of UTI Dividend Yield Fund on January 8, 2014 under dividend
option-existing plan was Rs. 13.1154 and under
dividend option-direct plan was Rs. 13.7350.
UTI-Dividend Yield Fund is an open-ended equity oriented scheme. The investment
objective of the scheme is to provide medium to long-term capital gains and /
or dividend distribution by investing predominantly in equity and equity
related instruments, which offer high dividend yield. There can be no assurance
that the investment objectives of the scheme will be realized. “High Dividend
Yield” means dividend yield is greater than the dividend yield of the Nifty
last released/ published by NSE.
Ms Swati Kulkarni is the fund manager of the scheme. "
UTI Mutual Fund is a SEBI registered mutual fund whose Sponsors are State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India.
UTI Mutual Fund is one of the largest mutual funds in India with investor accounts of 9.59 million under its 100 domestic schemes / plans as on December 31, 2013.
GOLDMAN, UTIMF SHORTLISTED FOR MANAGING PUBLIC SECTOR ETF
APRIL 11, 2013
NEW DELHI: The finance ministry has shortlisted Goldman Sachs Asset Management and UTI Mutual Fund to act as asset management company (AMC) for the proposed public sector enterprise exchange traded fund (ETF).
The government had already selected ICICI Securities as the advisor for the proposed
ETF. The CPSE ETF will have shares of some listed public sector companies and
will serve as an additional mechanism to monetise government's shareholding in
PSUs. "Both the candidates will make presentation next week and then a
decision will be taken," said a finance ministry official, requesting
anonymity.
The government has set a target to raise Rs 400000.000 millions through divestment in this fiscal. The finance ministry holds the view that the ETF can be used as a year-round mechanism to divest stakes in public sector enterprises. In 2012-13, the government was able to raise Rs 239200.000 millions through stake sale in staterun companies.
Under the proposed mechanism, the government will pool the shares of different companies it plans to disinvest to create a fund, which will be sliced into smaller units. These units will then be listed on stock exchanges. The proposed ETF will have around 20 stocks, including that of blue chip PSUs such as Coal India, NTPC, ONGC, and Oil India.
The government is hopeful that ETF mechanism will help minimise market disruptions usually seen during public offerings of shares of staterun companies. An empowered group of ministers (EGoM) on disinvestment will take a final call on the structure of the proposed ETF and the scrips which will be traded through the mechanism.
ETFs, however, have not been highly successful in India. Gold ETFs have made some headway though. Many global firms had evinced interest when the government had announced its PSU ETF. In one of its reports, Goldman Sachs had said that ETF in India has the potential to touch $5 billion.
"We expect more retail participation in ETF and it will also boost the ETF product in the country," said the above quoted official.
The government will also offer discount of up to 5% to attract investors, with another 5% as loyalty bonus to those who make fresh investments after staying invested in the fund for at least a year.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.63 |
|
|
1 |
Rs.101.25 |
|
Euro |
1 |
Rs.83.42 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
70 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.