UTI Banking & Financial Services Fund

The fund itself is a good one and has given me decent returns, but what troubles me is the recklessness of the customer care which I seriously doubt exists at UTI.

I had Provided my KYC details in complete and been validated at my time of initial purchase, but to invest online through their website it says my PAN has not been updated. for which I had resubmitted twice my pan by going to there office personally.

its been 3 months now no one bothers to update it in my folio details, when I go to there office they say its has been updated but when I log into my account it says I can't make purchase as PAN is not updated again.

I had recently changed my bank details and applied for new pin none of them happened

I tried to contact them uticare@uti.co.in and invest@uti.co.in none of these email ids have replied even after writing to them 3 times.

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I had taken large quantity of units of UTI Infrastructure Bond Series i.The MF company and its Registrar (Karvy Computershare Private Ltd.) were most irresponsive in handling my portfolio. Complaints were definitely ignored and in the process I lost heavily. Those who cherish value for hard earned money, may better avoid this organization.

They manufacture documents, and proceed to suit their ends. Complaints/grievances were handled in casual manner. They commit serious mistakes and try to pass the buck on the customer.  Customers will be left helpless.

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First and foremost, UTI Dividend Yield Fund is a diversified equity fund. Thus, capital appreciation potential is the most important aspect while selecting a stock along with the expected dividend income.The highlight of the Fund is that it has a Good Performer not just in Market Downturns but even in Bullish times.

The Fund Manager, Swati Kulkarni, believes in sustainablility of cash flows and growth opportunities. She says, " We also look at the scalability of the businesses and management quality. Then of course we have to consider valuations to ensure that we buy stocks that have capital appreciation potential in the long term. Thus we take a complete view.

Our investment processes make it mandatory to meet the management of the company and maintain contact on a quarterly basis. So, certain small cap ideas, where we may not be able to have any regular contact with the management, will not be able to figure in our portfolio. "

The dividend yield is a criteria used to sharpen the focus by narrowing the investable universe to leave out certain opportunities which are riskyat this point in time or not very attractive from a valuations perspective. The fund is essentially a bottom-up fund and it cannot really have a predominant top-down approach.

After staying underweight for the last three years, this fund has started increasing exposure to FMCG and pharmaceuticals. It is underweight on technology right now due to the concerns on the volume growth and impact of cross currency movements.In terms of large-cap exposure, there has been a conscious shift, given the risk aversion and rising impact costs, especially with respect to mid-cap stocks. It has a Large Capal location standing at more than 50 per cent.

Regards,

Srikanth shankar Matrubai,

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UTI does it again! After the great fiasco of US 64, UTI is again doing what it does best, that is " to abandon its investors without any warning".

In 1993, UTI launched the SCUP " Senior Citizens Unit Plan" which promised great medical coverage to its investors ( husband and wife couples) when they reach the age of 58 .....plus a whole lot of benefits after the age of 61 ( some annuity ...wouldn't u like that too ?) . But before a majority of the investors manage to reach that age and start developing any illness that require hospitalisation, UTI SCUP SCHEME itself has collapsed in sudden death. What a sterling fund performance!!

I received the notice of termination yesterday. It is very well worded as most mutual fund documents are. However, the basic thrust of the letter is this..... we collectively at the UTI ( because we can't find that one idiot who envisaged this stupid scheme) made some lofty plans to cover your and your wife's old age hospitalisation bills, but u see... the markets didn't give us the returns that our guys projected way back in 1993 ( They didn't know their math very well, u know how we butchered the US 64) .....

so we are terribly sorry, but we have to terminate the SCUP 93 otherwise we can't afford to pay ourselves those fat salaries,  u can take your moneyback u old disposable fogey, and go to the New India Assurance company and buy medical insurance on an annual basis like any other citizen in the country does...u should be happy that u are getting nearly 5 times your one-time investment after 14 years of trusting us, it has appreciated quite well after subtracting our fees and perks, but not too well because we invested them all in ...guess what...only UTI financial products.... How is your cough by the way..we hope it is not too bad, anyway in India we don't really need medical insurance for old age, because we have a tradition where the children look after their parents right upto death. Before we say good bye, can we ask u this question that our young fund managers who now know their math quite well, after having made plenty mistakes....what are u going to do with the redemption amount that we are going to return to u, have u heard of a large number of our new financial products .....very good projections for the future.... If u are already dead don't call us.

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