Ajay Tyagi has been part of UTI AMC's equity investment team for 17 years. Along with managing UTI's offshore funds, he took over the management of the AMC's flagship UTI Equity Fund in February 2016. Overall he manages assets worth around Rs11,000 crore. UTI Equity Fund with assets under management of around Rs 5,300 crore has seen a bout of underperformance last year. Tyagi spoke to Mint about performance, fund strategy changes and how the portfolio is positioned in the current market scenario. Edited excerpts:
How has the strategy for UTI Equity Fund evolved since you took over last year?