UTI AMC soars on buzz Tata MF to buy major stake

16 Aug 2022 , 02:35 PM

According to the report, the deal would make the combined entity the sixth asset largest manager in India. As of 30 June 2022, assets under management (AUM) of UTI AMC and Tata AMC were Rs 2.24 lakh crore and Rs 88,367 crore, respectively. As of 30 June 2022, Tata MF owned a 2.62% stake in UTI AMC. The global investment management company T. Rowe Price is currently the largest shareholder with a 22.97% stake as of the June quarter. UTI AMC is Investment Manager to UTI Mutual Fund. UTI AMC is registered as Portfolio Manager with SEBI and through its subsidiary it acts as Fund manager for AIF, among others. It also has a countrywide network of branches along with a diversified distribution network. The companys Q1 FY23 profit after tax (PAT) was at Rs 94 crore, down 39% YoY and up by 74% QoQ. Total revenue from operations for the quarter was Rs 293 crore, down by 15% YoY and 3% QoQ. The operating expenses for Q1 FY23 were at Rs 162 crore, up 4% YoY and down by 16% QoQ basis. Powered by Capital Market – Live News