MUMBAI, JULY 10: United Trust of India (UTI), the largest mutual fund in India with investible funds of Rs 61,000 crore, has entered into a strategic alliance with London-based Morley Fund Management for joint ventures in Third World countries.The agreement was signed in London recently by UTI chairman PS Subramanyam and managing director of the Morley Fund Management Alan Clifton."We are pleased to expand our association with UTI beyond India," Clifton said adding UTI was already actively helping to develop unit trust sectors by providing technical advice and equity participation in countries like Sri Lanka and Egypt. Raising prospects of major joint ventures, Alan Clifton said when India allows investments by institutions overseas, UTI would be at the forefront of the development."We look ahead to develop international products for the Indian domestic market and see plenty of scope for working together," he said. Morley Fund Management is a London-based institutional asset management and itsinvolvement with UTI dates back in April 1977, when UTI became the first-ever Indian financial institution to launch India Access Fund to track the London Stock Exchange (NSE-50) index. Top
