UTI MF to raise $300 million in Dublin
UTI Mutual Fund is set to launch a second offshore equity fund to raise $300 million in Dublin next month, shortly after mopping up $300 million through a similar fund last year which tapped vast European investments. “We are launching offshore equity fund in Dublin to raise $300 million. The approval process is going on and it would likely be launched in April,” UTI AMC Managing Director Leo Puri told PTI at the ‘Emerging India Forum 2015’ here. “We see a potential to get a $1 billion,” he said when asked about the scope of raising funds to support investments in India. UTI Mutual Fund has already raised $300 million through a similar fund launched in Dublin in December, 2014, which tapped the vast European investments.