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Published: July 18, 2017 5:06 PM IST 
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UTI MF launches new ETF, eyes 5,000 retail investors
Mumbai, Jul 18 (PTI) UTI Mutual Fund is targeting at least 5,000 new retail investors for its new open-ended equity oriented ETF Nifty Next 50 ETF launched today.The new fund offer (NFO) opening today
Mumbai, Jul 18 (PTI) UTI Mutual Fund is targeting at least 5,000 new retail investors for its new open-ended equity oriented ETF Nifty Next 50 ETF launched today.
The new fund offer (NFO) opening today will close on July 28 and will be available for repurchase/redemption and trading in cash segment on the exchanges from August 8, a company statement said.
“We are targeting at 5,000 new retail investors through UTI Nifty Next 50 ETF during the NFO period itself,” Suraj Kaeley, group president, sales and marketing at UTI AMC, told PTI.
“Mid-cap companies can grow at a much faster rate, even though the market was a bit expensive today,” he said, adding, “valuation was justified given the growth rate of the mid-cap companies.”
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UTI Nifty Next 50 ETF will invest in securities which are constituents of Nifty Next 50 Index and in cash/money market instrument including CBLO and units of liquid mutual fund in accordance with the asset allocation pattern.
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Baroda Global Shared Services appoints Rana as MD & CEO State-run Bank of Baroda today appointed Joginder Rana as managing director and CEO of its newly created Baroda Global Shared Services.
Baroda Global Shared Services was started in March 2017 and is into backend operations of its the bank’s centralised retail operations across retail products in both assets and liability side.
Rana has earlier worked with Citigroup and RBL Bank at senior positions.
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MCX, Thomson Reuters launch co-branded commodity indices Multi-Commodity Exchange of India (MCX) today joined hands with Thomson Reuters to launch co-branded commodity indices which will track the performance of commodity derivatives listed on MCX.
The indices will be created and maintained by Thomson Reuters, while MCX will have the exclusive rights to list the indices on its own platform for trading.
Thomson Reuters can also sub-licence the indices to institutions such as mutual funds, alternative investment funds, among others.
This is published unedited from the PTI feed.