Greetings to all,
I am pleased to present the Annual Report of UTI Asset Management Company ("UTI
AMC") for FY 2023-24.
This document encapsulates our journey through the year, highlighting our efforts,
accomplishments, and dedication to excellence. Our achievements are a demonstration of our
improved capabilities and resilience. Drawing strength from our past and embracing the
opportunities ahead, we look forward to continued growth in the future.
As the fastest-growing major economy, India's macroeconomic stability shines on the
global stage, promising a bright future. Our goal of becoming a US$ 5 tn economy and
evolving into a developed nation by CY 2047 is aligned with the Government's Viksit Bharat
Vision.
Supporting this ambition, the Interim Budget for FY 2024-25 outlines strategies and
announcements, including an 11.1% increase over the previous year, in the capital
expenditure outlay to Rs. 11,11,111 crore. This boost is expected to stimulate economic
growth by enhancing infrastructure development, attracting private investments and
improving productivity. Furthermore, the proposed establishment of a corpus of Rs.
1,00,000 crore to boost private investments in emerging technologies heralds a new dawn
for our tech-savvy youth. This effort, underpinned by substantial investments in enhancing
infrastructure and digitisation, sets the stage for a thriving economic ecosystem.
In this evolving landscape, UTI AMC is ideally positioned to capitalise on the
increased investment opportunities, portfolio diversification and the increasing demand
for financial services. The integration of technology with changing investor preferences
and increasing financial literacy opens new avenues for innovation and growth. Our newly
revamped website and UTI Buddy app offer a seamless, intuitive experience, making
investing effortless for our investors in a user friendly manner to service them in the
best possible way.
At UTI AMC, our digital initiatives are helmed with a single line of thought to foster
ease and convenience for our investors and partners. Our investor education initiative,
"Swatantra" aims to enhance investment education and public participation in
financial markets, mirroring the national uptrend in mutual fund investments and financial
inclusivity.
India's mutual fund industry has seen impressive growth, with assets nearing Rs. 60 tn
as of May 2024. As the oldest mutual fund house in India with a global footprint, we have
consistently encouraged and guided investors to generate wealth through investments in
mutual funds. We have fortified our investment process making it more rigorous to deliver
unparalleled service for the protection of UTI Mutual Fund investors. UTI AMC is working
towards broadening the realm of financialisation of savings and investor awareness across
the country.
Our strategic endeavour to cultivate deeper engagements with distributors drives our
growth forward. By utilising our extensive distribution network, we are extending our
reach across new regions and enhancing our brand's visibility. Aiming to become the most
preferred Asset Management Company, we strive to solidify our foothold in T30 cities,
diversifying our client base and further penetrating B30 cities.
In today's rapidly evolving financial landscape, the integration of Environmental,
Social, and Governance (ESG) principles is no longer a peripheral consideration but a
central tenet of business strategy. Our commitment to Corporate Social Responsibility and
the integration of ESG considerations into our investment practices underlines our
dedication to sustainable business practices and responsible investment stewardship. We
are committed to minimising our carbon footprint and creating an eco-friendly workplace,
demonstrating our dedication to positive environmental impacts. Through active
participation in impactful projects and collaboration with esteemed partners, we promote
social responsibility and sustainability. We have matured our ESG programmes, confident
that our ongoing dedication and enthusiasm for ESG will empower us to cultivate a more
vibrant workplace while upholding the trust and respect of our valued employees,
customers, and partners. Our double materiality assessment reinforces our commitment to
sustainability, driving positive environmental and social impact across our operations in
a long term.
As a leading asset manager, we aim to fortify our Capabilities, Commitment and
Conviction. We adhere to a comprehensive investment philosophy and process, ensuring
meticulous monitoring and benchmarking of fund performance.
Going ahead, we will continue focusing on our People, Process, and Performance and
enhance our investment management and operations expertise. We express sincere gratitude
to all our stakeholders for their unstinted support, which inspires us to strive for
continuous improvement.
Thank you for your continued support and collaboration.
Best Regards,
Dinesh Kumar Mehrotra
Chairman