Japan-based Shinsei, with which the fund house has tie-up with regard to global fund management, is being actively considered to be the strategic partner.
UTI Asset Management Company reportedly mulls offloading 26% stake to a strategic partner in the next three months. The negotiation is at the advance stage and the deal is expected to be closed by February or early March.
The report stated that Japan-based Shinsei, with which the fund house has tie-up with regard to global fund management, is being actively considered to be the strategic partner. Other US and European players, including the second largest fund house in the US America Vanguard Mutual Fund, have also shown interest in picking up strategic stake in the mutual fund, which has seen growth in its asset under management even when the sector is facing redemption pressure.
UTI Mutual Fund is promoted by State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation holding 25% each.
UTI Asset Management Company reportedly mulls offloading 26% stake to a strategic partner in the next three months. The negotiation is at the advance stage and the deal is expected to be closed by February or early March.
The report stated that Japan-based Shinsei, with which the fund house has tie-up with regard to global fund management, is being actively considered to be the strategic partner. Other US and European players, including the second largest fund house in the US America Vanguard Mutual Fund, have also shown interest in picking up strategic stake in the mutual fund, which has seen growth in its asset under management even when the sector is facing redemption pressure.
UTI Mutual Fund is promoted by State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation holding 25% each.
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