UTI Asset Management Company Ltd. (UTIAMC) is now going aggressive, with its plans to use social media and wireless technology to reach out to investors.
Mr. Jaideep Bhattacharya, Chief Marketing Officer of UTI Asset Management Company said in India about 63 % of the investments are done through community-based recommendations. This community can be friends, colleagues, relatives or social media like Orkut, Twitter, Linkedin, Facebook etc. Besides, the company is doing a lot of activities on Facebook and Twitter to educate the investors.
Mr. Bhattacharya said as people communicate a lot through social networking sites, therefore the company is focusing more on social media. The key objective out here is that wherever there is a discussion happening, the user can communicate or guide.
UTI Asset Management Company, who is well known for its innovative marketing initiatives, has now come out with initiatives such as - tying up with Mumbai's dabbawallas to distribute its NFO-Wealth Builder Fund-Series II, advertisements in Mumbai's local trains and tying-up with Meru cabs to communicate with investors in the past. Mr. Bhattacharya also said this year the company is eyeing on using wireless technology on mobile platforms, which would help the company in penetration of new markets, reducing cost of transactions and knowledge distribution. UTIAMC is a company incorporated under The Companies Act, 1956.
UTIAMC was registered by SEBI to act as the asset management company for UTI Mutual Fund vide its letter of January 14, 2003.
UTIAMC has also entered into a service agreement with the Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI) to provide them with back office support for business processes.
UTIAMC is also a registered Portfolio Manager under the SEBI (Portfolio Managers) Regulations, 1993 since February 3, 2004 for undertaking portfolio management services.
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