US co buys 26% in UTIMF

T. Rowe Price has said it will increase its stake beyond 26% in UTI AMC “in due course”. It is the single largest shareholder in the fund.

T. Rowe Price would, however, retain the UTI brand for the AMC business, it said.

India, it said, was a critically important investment market. On how emerging markets were now rising to become the global investment hot-spots, it said: “We’re seeing growth in emerging market funds from the US. More American retail investments would start going overseas and the home bias to investment would change.”

In an interview with CNBC-TV18, Edward Bernard, Vice Chairman, T. Rowe Price said, “I would say that it is fair to say that we publicly stated that it would be our interest to increase our stake over time. I wouldn’t even begin to know how to predict right now over what timeframe and how that would take shape.”

No related posts.