Unit Trust of India or UTI was established in 1963 and it also marked the beginning of the mutual fund industry in India. US-54 was the flagship product of UTI mutual funds which was launched in 1964. US 54 UTI mutual fund became the face of the mutual fund sector for almost next 2 decades till 1987 when other public sector banks got a go ahead from the government to launch mutual fund schemes in competition to UTI mutual fund schemes. Want to know more interesting details about UTI mutualfund, eager to learn about UTI mutual fund NAV and the different UTI mutual fund schemes available in the market currently then continue reading this section of moneysuperbazaar.com.

Overview of UTI mutualfund

UTI mutual fund schemes were trendsetters in the mutual fund segment but even though US-64 UTI mutual fund and succeeding UTI mutual fund schemes were successful, this company could not capitalize on its initial success. UTI mutual funds were on the verge of shutting down its business in 2001 when they were bailed out by the government and UTI mutual fund schemes were restructured. After government funding and having sponsors like LIC, Punjab national Bank and Bank of Baroda, UTI mutual fund programs are again making a mark in the booming market. UTI mutualfund continue to enjoy the status of being one of the largest funds in India with a total asset of more than 35,028 crores.

It was in 2003 that UTI mutual funds were further split into two groups: UTI mutual fund and UTI-I. UTI mutualfund have been registered under SEBI while the second UTI mutual fund schemes are directly controlled by the government and offer guaranteed returns to all the UTI mutualfund investors. UTI asset management company officially manages the UTI mutual fund and decides on UTI mutual fund NAV. UTI mutual fund were formally established on 1^st February 2003 and has a nationwide network comprising of about 70 financial centers. UTI mutual funds are also available through UTI international offices located in Dubai, Bahrain and London.

Classification of UTI mutual funds

UTI mutualfund can be classified as both open ended and close ended funds. UTI mutual fund schemes are extremely diversified and have something to offer to every taste. UTI mutual funds include liquid UTI mutual fund, income funds, index funds, balanced funds, equity funds, asset allocation funds etc.

Some of the latest UTI mutual fund schemes include UTI MIS Growth which has a UTI mutual fund NAV of 19.1007, MIS-Income with UTI mutual fund NAV of 12.1648, Retirement Benefit Pension fund with UTI mutual fund NAV of 19.3113, UTI Mahila Unit Scheme with UTI mutual fund NAV of 34.7798 etc.

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