Our take on 5 equity funds from UTI AMC

Funds analysed by senior research analyst Nehal Meshram.
By Nehal Meshram |  29-08-22 | 
 

  • UTI Mastershare Unit
  • DATE OF ANALYSIS: July 2021, currently under periodic annual review
  • ANALYST RATING: Silver (Direct), Bronze (Regular)
  • STAR RATING: 4 stars
  • FUND MANAGER: Swati Kulkarni
  • CATEGORY: Equity: Large Cap
  • Read the analysis
  • Watch the video

A conservatively managed large-cap fund with an impressive track record that can be tracked over three decades and all market cycles.

The fund manager follows a top-down approach for sector weights and a bottom-up view for stock selection.

She follows a benchmark-aware large-cap strategy and usually picks stock from the BSE 100 index. She follows a growth-at-a-reasonable-price approach and looks at key metrics such as ROCE, ROE and EBITDA margin, which clearly reflects the growth bias in her investment style. Her buy-and-hold approach is evident in her investment style and from the relatively low turnover ratio, though she takes active calls within the internal risk-management framework.

  • UTI Value Opportunities
  • DATE OF ANALYSIS: December 2021
  • ANALYST RATING: Bronze (Direct), Neutral (Regular)
  • STAR RATING: 3 stars
  • FUND MANAGERS: Vetri Subramaniam, Amit Premchandani
  • CATEGORY: Equity: Value
  • Read the analysis

Earlier, this was fund positioned as a large-cap fund with 80-90% exposure to large-cap stocks. It is now managed with a value bent with the flexibility to actively invest across market capitalizations.

The fund managers follow a mix of top-down and bottom-up approaches, and take aggressive sector positions. The positioning is based on valuation considerations and medium-term growth prospects. They invest in stocks that are currently depressed with low ROCE and ROE, and have the potential to generate higher returns.

  • UTI Flexi Cap
  • DATE OF ANALYSIS: October 2021
  • ANALYST RATING: Bronze
  • STAR RATING: 4 stars
  • FUND MANAGER: Ajay Tyagi
  • CATEGORY: Equity: Flexi Cap
  • Read the analysis

Earlier known as UTI Equity Fund, it was launched in 1992. It is one of the oldest funds in the Indian mutual fund industry. From a large-cap orientation to a multi-cap and now, flexi-cap, the fund’s investment philosophy remains the same.

The fund manager’s style is distinctively long term, driven by quality, growth and valuation. He looks for businesses with a strong record of earnings growth over the past 5-10 years.

  • UTI Mid Cap
  • DATE OF ANALYSIS: December 2021
  • ANALYST RATING: Neutral
  • STAR RATING: 4 stars
  • FUND MANAGER: Ankit Agarwal
  • CATEGORY: Equity: Mid Cap
  • Read the analysis

The fund has seen numerous changes as far as the fund managers are concerned. The fund manager looks for quality stocks trading at compelling valuations.

  • UTI Dividend Yield
  • DATE OF ANALYSIS: July 2021, currently under periodic annual review
  • ANALYST RATING: Bronze
  • STAR RATING: None
  • FUND MANAGER: Swati Kulkarni
  • CATEGORY: Equity: Dividend Yield
  • Read the analysis

The largest dividend yield fund, it has transitioned from a large-cap tilt to a multi-cap tilt. When choosing stocks in the portfolio, Swati looks at Nifty Dividend Opportunities 50 index. But dividend payout history is just the initial mathematical screen.

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