INDIA - The UTI Mutual Fund claims it is to manage a "majority share" of the new R15bn (US$340m) pension scheme for government employees.
The Pension Fund Regulatory and Development Authority (PFRDA) last week announced four fund managers would be appointed within the next three months to manage the funds collected under the new scheme.
UTI Asset Management Company chairman and MD Shri Sinha said the company would be getting a major share of the new funds.
"We have indications that we will get the majority share," said Sinha, who was joint secretary in the ministry of finance before joining UTI.
According to reports, SBI and LIC Mutual Funds could also manage part of the pension fund.
The Indian pension fund business expected to grow to an estimated $43bn.
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