UTI International Singapore announced the launch of its new open ended equity scheme called India Dynamic Equity Fund (IDEF), said a press release issued by UTI MF.
Domiciled in Ireland, the fund is compliant with the Undertakings for Collective Investment in Transferable Securities (UCITS) regulations and is meant for global investors to invest in Indian markets.
Praveen Jagwani, CEO of UTI International said, “UTI was the first Indian asset manager to launch an Indian equity fund in Mauritius in 1986 and now we are leading the charge again by launching this fund for our institutional investors in Europe, Middle East and South Asia”.
The fund will follow growth at a reasonable price (GARP) approach as its investment strategy. The fund’s focus will be on industries with stable and secular growth prospects, high revenue and profit growth. The fund will be constructed with the combination of top-down and bottom up approach based on fundamental analysis, macro indicators and sector views, states the release.
UTI International Singapore is a subsidiary of UTI Mutual Fund.
