What is the work of Unit Trust of India (UTI)?

Unit Trust of India (UTI) was a mutual fund company in India that was established in 1963 by the Government of India. It was one of the first mutual fund companies in the country and played a pioneering role in promoting the concept of mutual funds in India. In 2003, UTI was restructured into two separate entities, UTI Mutual Fund and UTI Asset Management Company.

The primary work of UTI was to mobilize savings from the general public and invest them in a diversified portfolio of securities such as stocks, bonds, and other instruments. UTI offered a range of mutual fund schemes that catered to different investment needs and objectives of investors, including equity funds, debt funds, balanced funds, and index funds.