Here is a brief profile of UTI Mutual Fund

UTI Mutual Fund

The setting up of the Unit Trust of India (UTI) in 1963 heralded the birth of the Indian mutual fund industry. In 1964, UTI mutual fund launched its flagship scheme US-64 and went on to become a generic term for the mutual fund sector till the government allowed public sector banks to start mutual funds in 1987.

Despite being the trendsetter in the segment, the UTI mutual fund could not sustain the initial tempo and was on the verge of a collapse in 2001, before the government bailed it out and restructured the fund. After the restructuring, the fund has somewhat redeemed its credibility through professional management and a booming market.

The fund's sponsors are public sector financial giants like Life Insurance Corporation, SBI, Bank of Baroda and Punjab National Bank. The sponsors hold equal stakes in the asset management company, UTI Asset Management Company Private Limited. UTI Mutual Fund remains the largest fund in the country with assets of over Rs.35,028 crore under management as of Aug 2006.

In 2003, UTI was divided into two parts, UTI Mutual Fund (UTI MF) and a specified undertaking of UTI or UTI-I. UTI MF was brought under SEBI regulations while UTI-I was kept under direct government control since its schemes offered guaranteed returns.
Here is a list of mutual funds of UTI which includes Liquid Funds, Income Funds, Asset Allocation Fund, Index Funds, Equity Funds and Balanced Fund.