(a) whether the Government propose to divide
Rs. 12,400 crore assets of UTIs NAV-based funds
into four or more separate funds;
(b) if so, the details thereof;
(c) whether the Government have decided to
privatize UTI; and
(d) if so, the reasons for the same and the
manner in which the interests of investors are
likely to be protected ?
MINISTER OF STATE IN THE MINISTRY OF FINANCE & COMPANY AFFAIRS (SHRI ANANDRAO V. ADSUL)
(a to b) The NAV based schemes of UTI will be
transferred to a specified company, which is being
set up jointly by PSU banks/financial institutions.
It will be professionally managed and shall be
compliant with SEBI Regulations.
b) The specified company shall be subsequently
divested and the realisation, net of expenses, will
accrue to the Government.
c) The specified company will manage the NAV based schemes as per SEBI (Mutual Fund) Regulations.