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Investors from the Middle East and North Africa (Mena) region have huge opportunities in India’s rapidly growing economy as the country’s economy is becoming a $5 trillion economy.
That’s according to UTI Asset Management Ltd (UTI-AMC), one of India’s largest and oldest asset managers.
Celebrating its 60th anniversary in Dubai, UTI Group said regional investors can take part in India’s growth story by leveraging its time-tested 3x growth strategy, which has seen continued success over the past 10 years.
growing appetite
The group’s overseas wholly-owned subsidiary, UTI International, has offices in Dubai, Singapore, Paris and London, manages US$2.9 billion in assets, and provides services to investors from more than 35 countries. It administers fund structures through its offices in the Dubai International Financial Center (DIFC), as well as other offices in Singapore, Ireland, the Cayman Islands and Mauritius. UTI International will soon be launching operations in the US to cater to India’s growing investment needs.
Praveen Jagwani, Chief Executive Officer, UTI International said, “As of November 30, 2022, the group manages a US$177 billion Indian equity and fixed income portfolio. UTI is a heritage brand in India, synonymous with trustworthiness and It is an honor to lead this organization.
“India is on its way to becoming a $5 trillion economy, which offers huge potential for investors from the Middle East and North Africa to benefit from India’s future growth, and UTI is a window.”
UTI-AMC is a pioneer in the money management industry in India. Created in 1964 by an act of the Indian Parliament, UTI has grown exponentially over the past six years. Today, UTI manages close to 12 million Live Folios and its client base accounts for approximately 10% of the 120 million folios managed by the Indian mutual fund industry.
investment quality
Ajay Tyagi, Head of Equities, UTI AMC said, “Looking back at what has helped us get us to where we are today is our philosophy of excellence. UTI-AMC has always focused on quality of investments. India Dynamic Equity Fund is a promising fund with our emphasis on quality One. It’s about investing in businesses that deliver substantial and sustainable returns on capital above the cost of capital.”
“We’re buy-and-hold investors, investing in resilient businesses, not stocks. We’re only interested in what businesses can produce—their ability to solve specific customer needs and maintain high margins. Today, we Well-positioned and ready to take the leap in the next few years,” he added.
Mahesh Natarajan, Head of UTI Middle East and Africa, said: “UTI International has been at the forefront of bringing investment into India through its various offshore vehicles. Our flagship fund, UTI India Dynamic Equity Fund, is US$1.1 billion and has received support from Lipper, Top ratings from several fund rating agencies including Citywire and Morningstar. Middle Eastern investors are key to our future growth.”
He added that this milestone celebrates the trust its investors and partners place in UTI, with a team focused on delivering and exceeding the expectations of discerning Middle Eastern investors. — trade arab news agency
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