UTI Asset Management

** Shares of India's UTI Asset Management Company UTIA.NS fall as much as nearly 6% to 975.90 rupees; last down 4.9%

** Stock set for worst day since November 13, 2024

** UTI swings to loss in Q4 at 667.1 million rupees compared to a profit a year earlier

** Profit margins contract to 24% in FY26 - lowest in last five years - from 39% in FY25

** Antique downgrades stock to "hold", lowers PT to 1,065 from 1,100

** Brokerage says UTI's large proprietary investment book continues to be a source of earnings unpredictability

** Equity flows lagged industry peers in Q4, underscoring the need to sustain improvement in equity fund performance to regain market share - Antique

** UTI down 12% YTD

(Reporting by Pranav Kashyap in Bengaluru)

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April 23 (Reuters) - UTI Asset Management Company Ltd UTIA.NS:

• UTI ASSET MANAGEMENT COMPANY MARCH-QUARTER CONSOL NET LOSS 667.1 MILLION RUPEES

• UTI ASSET MANAGEMENT COMPANY MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 3.9 BILLION RUPEES

Source text: [ID:]

Further company coverage: UTIA.NS

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** Shares of UTI Asset Management Company UTIA.NS rise 3% to 1,066 rupees; set to gain the most since October

** Asset manager's Q3 consol total rev from ops up 24% y/y; PAT down 20% impacted by exceptional items

** Co's operating expenses jump 75% y/y, driven by a one‑time 1.1 billion rupee ($12.01 million) charge tied to new labour code implementation

** Total group AUM up 11.4% to 23.15 trillion rupees, helped by SIP inflows

** Centrum upgrades stock to "Buy" from "Neutral", expects core PAT to grow at a 10% CAGR over FY25-28

** Analysts have a "Buy" rating on avg; median PT is 1,355 rupees - data compiled by LSEG

** UTIA down ~5.5% so far in January

($1 = 91.5850 Indian rupees)

(Reporting by Urvi Dugar in Bengaluru)

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Jan 21 (Reuters) - UTI Asset Management Company Ltd UTIA.NS:

• UTI ASSET MANAGEMENT COMPANY LTD DEC-QUARTER CONSOL NET PROFIT 1.21 BILLION RUPEES

• UTI ASSET MANAGEMENT COMPANY LTD DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 5.17 BILLION RUPEES

Further company coverage: UTIA.NS

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** India's UTI Asset Management Company UTIA.NS slumps as much as 10% to three-month low of 1,263.3 rupees; last down 6.4%

** Set for biggest daily pct drop since June 2022

** Asset manager's revenue, core profit drops q/q and y/y

** JM Financial downgrades to "reduce" from "hold", cuts PT to 1,350 rupees from 1,500 earlier

** Says UTIA continues to lose market share in SIP inflows and stock equity AUM

** Nearly 280,000 shares change hands, roughly double the 30-day avg volume

** Stock rated "buy" on avg by 17 brokerage firms; median PT at 1,416 rupees, per data compiled by LSEG

** UTIA turns negative YTD, down 4.5%

(Reporting by Vivek Kumar M)

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** Shares of HDFC Asset Management Company HDFA.NS rose as much as 3.8% to 5,809 rupees, their highest level in nearly three weeks

** Closed 3% higher

** Co reports 25% y/y rise in Q2 consol net profit, rev rises 16%

** Approves bonus issue in the ratio of 1:1

** More than 1.2 mln shares trades so far, 4x their 30-day avg

** YTD, HDFA up 37%; peers Nippon Life India Asset Management NIPF.NS gain 24% and UTI Asset Management UTIA.NS advance 4%

(Reporting by Nishit Navin in Bengaluru)

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Oct 13 (Reuters) - Indian asset manager Canara Robeco's CANE.NS nearly $150 million initial public offering (IPO) was fully subscribed on Monday, the final day of its three-day bidding process, driven by retail individual investors.

A joint venture between India's Canara Bank CNBK.NS and the European arm of Japan's ORIX 8591.T, Canara Robeco is the smallest in terms of revenue among its peers, including the listed HDFC AMC HDFA.NS, Nippon Life India AMC NIPF.NS and UTI AMC UTIA.NS.

Unlike its peers, the more than 30-year-old asset management company (AMC) has a portfolio heavily focussed on equities and caters primarily to a retail investor base.

India is expected to see record IPO fundraising in 2025. With companies having already raised $10.5 billion in the first nine months of 2025, the IPO market is on track to surpass last year's record of $20.5 billion.

(Reporting by Yagnoseni Das in Bengaluru; Editing by Harikrishnan Nair and Sonia Cheema)

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Oct 11 - UTI Asset Management Company UTIA.NS has temporarily suspended fresh lump-sum and switch-in investments into the UTI Silver ETF Fund of Fund, effective October 13, 2025, the company said in a statement on Saturday.

The asset manager said this was due to prevailing market conditions and a shortage of physical silver in the domestic market as the metal trades at a premium relative to international prices.

"Therefore, the premium in domestic silver prices directly impacts the valuation of the scheme."

UTI is the second fund manager to curb new investments into silver-based funds this week. On Thursday, Kotak Mahindra Asset Management Company also temporarily suspended new investments into a Silver ETF Fund of Fund.

Kotak said it would lift the restrictions within the next couple of weeks as supply improves after the Hindu festival of Diwali.

Spot silver hit a record high of $51.22 per ounce on Thursday, surpassing the $51 per ounce level for the first time.

In India, the world's biggest silver consumer, silver's premium over official domestic prices jumped as much as 10% on Thursday because of strong investment demand ahead of a key festival and limited supplies, bullion dealers said.

(Writing by Sai Ishwarbharath B in Bengaluru. Editing by Jane Merriman)

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** UTI Asset Management Company UTIA.NS falls 4.5%; marks biggest intraday pct loss since May 6

** Co's Q1 profit slips 6.8% y/y as 15.7% jump in total expenses countered a 3.3% rise in revenue

** Stock set to fall for third straight day; on track to extend weekly rally into 11th straight session

** YTD, UTIA gains ~7%

(Reporting by Yagnoseni Das in Bengaluru)

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Updates with details throughout

April 25 (Reuters) - India's Canara Robeco Asset Management Company has filed for an initial public offering, draft papers showed on Friday, with its existing shareholders looking to sell stakes at a time when the IPO market is slowing.

Canara Robeco is a joint venture between India's state-owned Canara Bank CNBK.NS and Netherlands-headquartered ORIX Corporation Europe, which is a unit of Japan's ORIX Corporation 8591.T.

The firm, which manages more than 1 trillion rupees ($11.7 billion) in assets, will not issue fresh shares in the IPO, but the two owners will sell a combined 49.8 million shares.

Canara Bank will reduce its stake in the asset manager by 13% by selling 25.92 million shares via the listing. ORIX will sell 23.93 million shares.

The asset manager did not detail the size or timing of the IPO.

The listing is set to come at a time when rising global market volatility, driven by U.S. tariff flip-flops, is forcing companies to recalibrate IPO ambitions to avoid weak demand or failed listings.

India was the world's second-largest market by IPO proceeds in 2024 but listings are down close to 15% this year, data compiled by LSEG showed.

Canara Robeco competes with other major asset managers such as HDFC Asset Management Company HDFA.NS, Nippon Life India Asset Management NIPF.NS and UTI Asset Management Company UTIA.NS.

Its profit for the fiscal year ended March 2024 was 91% higher than a year ago, the draft prospectus showed, while revenue from operations was 55.4% higher.

In a country where physical assets still dominate financial savings, investments in mutual funds are on the rise, in tandem with greater financial awareness.

Mutual funds, as a portion of household financial savings, grew from 2% to around 7% between fiscal years 2021 and 2024, with investment value more than doubling to 2.4 trillion rupees, the prospectus showed, citing data from India's central bank and Crisil Intelligence.

($1 = 85.3680 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru; Editing by Mrigank Dhaniwala)

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By Siddhi Nayak and Dharamraj Dhutia

MUMBAI, March 7 (Reuters) - India's two- to three-year government bond yields are an attractive investment opportunity and UTI Asset Management Company is more bullish on this part of the curve versus the 10-year bond, an executive from the fund house said.

India's 10-year benchmark bond yield IN067934G=CC was at 6.68%, while the two-year and three-year bond yields were around 6.53%-6.57% on Friday.

"The sweet spot on the yield curve is somewhere in the 2-to-3-year segment. We are more bullish (on this segment) than the 10-year," said Vetri Subramaniam, chief investment officer at UTI Asset Management Company, which manages debt assets worth around 3.50 trillion rupees ($40.18 billion) as of January.

Yields on the longer duration bonds would likely have limited room to decline from this point as U.S. yields remain elevated, he added.

Bond yields fall when prices rise.

The 10-year U.S. Treasury yield US10YT=RR was at 4.26%, and the spread with the Indian counterpart is 243 basis points. The spread was at 255 bps at the start of the week.

In addition, the premium on (India's 10-year-bond yield) compared to its U.S. counterpart "is not very attractive and it does not fully compensate investors for the currency risk," Subramaniam said. "The U.S. market is sucking the oxygen out of the room for every other country."

"Our view is that the yield curve is flattening, and steepening, if any, will happen because the short-term (yields) fall due to comfortable liquidity conditions," he added.

Typically, demand for short-term bonds ramps up when liquidity conditions are comfortable as there is more money in the system, pushing down yields.

The Reserve Bank of India has infused over 4.50 trillion rupees into the banking system since mid-January through bond purchases, forex swaps and repos maturing in early-April. It will further inject around 1.87 trillion rupees through bond buying and forex swaps in next three weeks.

The fund manager expects the current central bank's rate cutting cycle to be shallow, and sees the possibility of two more cuts, with a reasonable probability in April.

($1 = 87.1100 Indian rupees)

(Reporting by Siddhi Nayak and Dharamraj Dhutia; Editing by Janane Venkatraman)

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By Dharamraj Dhutia

MUMBAI, Jan 31 (Reuters) - India's UTI Asset Management Company plans to increase its investments in the seven- to 15-year government bond segment and three- to five-year corporate notes, following the central bank's recent liquidity infusion and anticipated rate cuts, an executive said on Friday.

"In government bonds, we are invested in the seven- to 15-year part of the bond yield curve, as this part is expected to benefit from the central bank's OMO (open market operation) purchases looking at its preference for such securities," said Anurag Mittal, head of fixed income at the asset management firm.

The fund house manages assets worth around 3.5 trillion rupees ($40.39 billion), as of December end.

In the corporate debt space, the firm remains invested in three- to five-year papers, as these yields could decline in case of interest rate cuts and liquidity infusion, Mittal said, adding the fund house is "quite comfortable" with the strategy.

The Reserve Bank of India will infuse around 1.50 trillion rupees into the banking system over three weeks through debt purchases, long-term repos and an FX swap.

On Thursday, the RBI bought 200 billion rupees of 2033 to 2037 maturity papers.

The infusion is being considered as a precursor for an interest rate cut on Feb. 7, when the RBI will announce its monetary policy decision.

Mittal expects the central bank to announce more steps to infuse liquidity and cut repo rate by 50-75 basis points this year.

"Going forward, inflation should come closer to RBI's target and growth is also slowing down. Both these factors are quite constructive for policy easing."

Mittal said, the central bank could opt for a temporary cut in banks' cash reserve ratio for the next two to three months, as a 50 bps move could release more than 1 trillion rupees.

"I think the RBI may have to do more tranches of liquidity infusion once the initial set is done. Especially around the time of advance tax outflows, we may need more longer duration variable rate repos as well as OMO purchases."

($1 = 86.6600 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Eileen Soreng)

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Jan 28 (Reuters) - UTI Asset Management Company Ltd UTIA.NS:

• DEC-QUARTER CONSOL NET PROFIT 1.51 BILLION RUPEES

• DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 4.18 BILLION RUPEES

Source text: [ID:]

Further company coverage: UTIA.NS

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** Shares of UTI Asset Management UTIA.NS rise 4.5% to 1,199 rupees

** Investment management co posted a 31% rise in Q1 consol net profit to 2.39 bln rupees ($28 mln), total rev from ops up 33% Y/Y

** Overall net flows remain positive, hybrid funds recorded decent inflows, said analysts at Centrum Broking

** Fourteen analysts covering the stock on avg have a "hold" rating; median PT is 1,232 rupees - LSEG data

** Stock up 42% so far this year

($1 = 84.0725 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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Oct 25 (Reuters) - UTI Asset Management Company Ltd UTIA.NS:

• UTI ASSET MANAGEMENT COMPANY LTD SEPT-QUARTER CONSOL NET PROFIT 2.39 BILLION RUPEES

• UTI ASSET MANAGEMENT COMPANY LTD SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 5.38 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: UTIA.NS

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** Shares of HDFC Asset Management HDFA.NS, Nippon Life India Asset Management NIPF.NS and UTI Asset Management UTIA.NS rise 4.2%, 1.7% and 2.5%

** Nomura begins coverage of HDFA and NPIF with a 'buy' and UTIA with a 'neutral' rating

** HDFA, NIPF rated "buy" on avg, UTIA "hold" - LSEG data

** India's mutual fund penetration trails global average and at 3.2% has "significant room to grow" - Nomura

** Says HDFA among most profitable AMCs and is poised to capture more market share in the future

** NIPF best-placed to benefit from rising industry flows, especially in small-/mid-cap segments, it says

** Sets PT of 5,000 rupees to HDFA, a Street-high; NIPF and UTIA get PTs of 785 rupees and 1,300 rupees - second-highest among brokerages

** NIPF leads YTD gains among the firms with ~45% rise, UTIA up ~44% and HDFA up 36%

(Reporting by Nandan Mandayam in Bengaluru)

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July 25 (Reuters) - UTI Asset Management Company Ltd UTIA.NS:

• JUNE-QUARTER CONSOL NET PROFIT 2.54 BILLION RUPEES

• JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 5.29 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: UTIA.NS

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MUMBAI, June 3 (Reuters) - India's general elections will have a limited impact on the stock market, although infrastructure-related stocks will benefit from policy continuity, while strong economic growth bodes well for premium-end consumer companies, said a fund manager of UTI Asset Management Company.

Exit polls predict Prime Minister Narendra Modi will win a third term, sending the stock market to a record high on Monday. The official results are due Tuesday.

"Even if the election results are a little different from the expectations, the stock market may only move for a couple of days or weeks," said Karthikraj Lakshmanan, senior vice president and fund manager of equity at UTI Asset Management Company.

"Eventually, markets are slaves to earnings. If one looks at the trend for the last three decades, the best correlation for markets would be with the earnings trajectory," Lakshmanan said on Friday.

UTI AMC manages assets worth 18.48 trillion rupees (about $222 billion).

Since 1999, irrespective of the short-term reaction to election results, India's benchmark Nifty 50 .NSEI has advanced over the six subsequent months, data shows.

The fund manager expects the private sector to now start contributing to India's growth story.

The government's focus on manufacturing and capex has helped the investment cycle so far and now is the time for the private sector capex to pick up, said Lakshmanan.

In terms of industries, the power sector could continue to see healthy growth due to the government's investment cycle, he said.

He also expects sustained traction in real estate and other consumption-linked stocks aimed at premium segments as India's fast economic growth translates to increased purchasing power, feeding into the demand for higher-end products.

"So, we may see those premiumisation trends on the consumption side to see further traction over the next few years."

Lakshmanan expects this to play out, especially in the real estate sector where the cycles are longer.

However, he cautions that the above-average valuations in small-cap .NIFSMCP100 and mid-cap .NIFMDCP100 stocks could spark some volatility.

"This is a stock picker's market in which the returns will not just depend on economic stability but also starting valuations."

($1 = 83.1160 Indian rupees)

(Reporting by Bharath Rajeswaran in Mumbai; Editing by Savio D'Souza)

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** Shares of UTI Asset Management Company UTIA.NS rise as much as 6.07% to 1,005 rupees, highest since April 1, 2022; shares last up 4.2%

** The asset management company posts consolidated net profit that nearly doubled year-on-year to 1.53 bln rupees in the March quarter

** Total revenue from operations rises 38% to 4.16 bln rupees; UTIA declares a special dividend of 23 rupees per share

** The mean recommendation of the 12 analysts tracking UTIA is equivalent to "hold"; median price target is 904.50 rupees - LSEG data

(Reporting by Bharath Rajeswaran in Bengaluru)

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April 25 (Reuters) - UTI Asset Management Company Ltd UTIA.NS:

• FINAL DIVIDEND OF 24 RUPEES PER SHARE

• SPECIAL DIVIDEND OF 23 RUPEES PER SHARE

• MARCH-QUARTER CONSOL NET PROFIT 1.63 BILLION RUPEES VERSUS PROFIT 857.1 MILLION RUPEES

• MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 4.16 BILLION RUPEES VERSUS 3.01 BILLION RUPEES

Source text for Eikon: ID:nBSE5BNl75

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** Shares of HDFC Asset Management Company HDFA.NS rise 2.25% to 3,726.70 rupees

** JP Morgan upgrades the stock to "overweight" from "neutral", raises PT to Street-high of 4,450 rupees

** The new PT implies an upside of 22% in nine months over its last close

** Brokerage values stock at 38 times 12-month forward earnings

** HDFA is trading at trailing twelve months (TTM) P/E of 43.81, compared to Aditya Birla Sun Life ADIE.NS, Nippon Life India Asset Management Company, and UTI Asset Management Company UTIA.NS, whose TTM P/E is in between 16-35 as per LSEG data

** JP Morgan expects HDFA to benefit from higher fund inflows

** Adds risk around regulations is largely mitigated, sees stable margins on the back of 25% rise in assets under management in FY24

** The avg recommendation of 19 analysts tracking HDFA is equivalent to "buy"; median TP, excluding JP Morgan's, is 3,440 rupees - LSEG data

** HDFA shares up 16.6% in 2024 so far, compared to 2% drop in financial services index .NIFTYFIN

(Reporting by Bharath Rajeswaran in Bengaluru)

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