(1888PressRelease)
May 03, 2008 - UTI Mutual Fund has won the Lipper Fund Awards Gulf 2008 for Best Group over the past three years ending December 31, 2007 in the category of Mixed Assets.
Also two schemes of UTI Mutual Fund viz. UTI Banking Sector Fund-Dividend and UTI Mahila Unit Scheme have won Lipper Fund Awards Gulf 2008. The details of the awards are enumerated below:
UTI Banking Sector Fund- Dividend has been ranked as the Best Fund over past three years ending December 31, 2007 by Lipper and has won the Lipper Fund Awards Gulf 2008 in the category of Equity Sector Banks and Other Financials. The award for UTI Banking Sector Fund-Dividend indicates the Best Fund within the stated category, which had a total of 8 similar schemes including this scheme.
UTI Mahila Unit Scheme has been ranked as the Best Fund over past three years ending December 31, 2007 by Lipper and has won the Lipper Fund Awards Gulf 2008 in the category of Mixed Asset INR Conservative. The award for UTI Mahila Unit Scheme indicates the Best Fund within the stated category, which had a total of 20 similar schemes including this scheme.
UTI Banking Sector Fund is an open-end equity oriented scheme. The investment objective of the scheme is “capital appreciation” through investments in stocks of companies engaged in the banking and financial services activities.
UTI Mahila Unit Scheme is an open-end debt oriented scheme which invests in a portfolio of equity/equity related securities and debt and money market instruments with a view to generate reasonable income with moderate capital appreciation.
Methodology :
For the Two winning schemes:
Lipper uses the Lipper Leader for Consistent Return methodology, which takes into account risk-adjusted performance of funds and values out performance and consistency of returns to determine a Lipper Award winner. The currency for the calculation is the U.S. dollar and the universe of funds is funds registered for sale in the GCC.
For the Group winner:
Competing groups should have at least three distinct portfolios in the mixed-asset category to be eligible for the award. The best average decile rank of the three years’ consistent return measure of the eligible funds and group determines the mixed-asset group award winner.
Disclaimer:
The methodology does not take into account the entry and exit loads levied by the schemes. The ranking is not a guarantee of performance and is no indication of the performance that can be expected from the schemes in future.
Although Lipper makes reasonable effort to ensure the accuracy and reliability of the data contained, accuracy is not guaranteed by Lipper. Users acknowledge that they have not relied upon any warranty, condition, guarantee or representation made by Lipper. Any use of the data for analyzing, managing or trading financial instruments is at the users’ own risk. This is not an offer to buy or sell securities. Data source: Lipper, a Reuters Company (www.lipperweb.com).
About UTI MF
UTI Mutual Fund is a SEBI registered mutual fund whose Sponsors are State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India The total assets under management (“AUM”) equalled Rs.495,418 million, as of September 30, 2007 and have approximately 8.1 million client accounts.
