The fund house was barred from launching any new scheme after its former CMD U.K. Sinha joined SEBI as Chairman.
UTI Mutual Fund is back in the game. It plans to launch an international feeder equity fund, after having sought an approval from SEBI for its pending schemes. The AMC will soon file an offer document with SEBI, as pera source familiar with the development.
The current volatile situation in the market has prompted most fund houses to launch short-term debt products. UTI too wanted to cash in on the opportunity.
However, it was reportedly barred from launching new schemes in August2011 till it appointed a new CEO. But it is understood that active efforts taken by its officials have resulted in a green signal from SEBI. It has allowed the fund house to launch its earlier schemes – five series of fixed term income schemes and gold fund. The AMC is confident of getting approval for fresh schemes.
