UTI Mutual Fund was formed after the bifurcation of Unit Trust of India into two components, namely SUUTI and UTI Mutual Funds. The latter, UTI Mutual Funds was registered with SEBI as an authorised fund house in January 2003. The mutual fund is backed by five of the major institutional partners, i.e. SBI, Bank of Baroda, Punjab National Bank, LIC, and T Rowe Price Group Inc. In this article, we take a look at a comprehensive overview of UTI Mutual Fund for NRIs, different schemes, NAV, performance, and more.
Also read: Tata Mutual Fund for NRIs – A Comprehensive Overview of Schemes, NAV, and Performance
Overview of UTI Mutual Fund for NRIs
The mutual fund offering under UTI is managed by UTI Asset Management Company Ltd. It is one of the oldest mutual fund houses in India due to its former UTI Master Share under previous banner launched back in 1986. UTI Mutual Fund has more than 11 million investors and has an Asset Under Management (AUM) size of Rs 2,33,772 crores aprox resulting in around 5.68% of the industry AUM share percentage. It has over 85 primary mutual fund schemes spread across equity, debt, hybrid, and commodity segments.
Also Read: How NRI invest in India: Mutual Funds
Can NRIs invest in UTI Mutual Funds?
Yes, NRIs can easily invest in UTI mutual funds after getting their Mutual Fund KYC done and linked to their NRO/NRE Bank accounts. They can invest in various mutual fund schemes and generate good returns in the long term. This helps NRIs to build a fund that can match their investment goals and secure their future for any long-term financial needs.
The FEMA Act, RBI rules, and SEBI guidelines govern the rules and regulations regarding NRI investments in mutual funds which is why it has a slightly different procedure than that of resident individuals. Keeping in check with the FEMA Act, the funds on offer for NRIs from the US & Canada to NRIs from other countries may vary at times.
Also read: Best Mutual Funds for NRI in India 2024
How can NRIs invest in UTI Asset Management Private Limited?
NRIs and OCIs can download the SBNRI app to invest in mutual funds from the country of their residence. Here are a few simple steps you need to take:
- Complete your NRI KYC: Type in your personal details and attach supporting documents, like:
- PAN Number
- Overseas address proof: Any – Water/electricity bills, postpaid mobile/internet bills, rent agreements, driving licenses, etc.
- Passport – front and back
- Passport size photograph
- Signature
- Onboarding: After KYC, you need to share the following details to complete the onboarding process and start investing in UTI Asset Management Private Limited
- Onboarding: After KYC, you need to share the following details to complete the onboarding process and start investing:
- City and country of birth
- NRE/NRO bank account statement/ canceled cheque for the last 3 months
- Nominee details
Top 5 Performing UTI Equity Mutual Funds for NRIs
| Fund Name | Fund Size (In Crores) | Expense Ratio | Current NAV (INR) | 1 YR | 3 YR |
| UTI Mid Cap Fund Plan Growth for NRI | 8,881 Cr | 1.8% | 248.74 | 16.75% | 26.96% |
| UTI Transportation & Logistics Fund Plan Growth for NRI | 2,348 Cr | 2.0% | 180.86 | 19.91% | 26.65% |
| UTI Core Equity Fund Plan Growth for NRI | 1,926 Cr | 2.1% | 122.75 | 23.17% | 28.43% |
| UTI Infrastructure Fund Plan Growth for NRI | 1,648 Cr | 2.3% | 110.21 | 23.72% | 31.61% |
| UTI Healthcare Fund Plan Growth for NRI | 776 Cr | 2.4% | 241.17 | 19.19% | 11.40% |
Also read: Best Equity Mutual Funds for NRIs to Invest in 2024
Top 5 Performing UTI Debt Mutual Funds for NRIs
| Fund Name | Fund Size (In Crores) | Expense Ratio | Current NAV (INR) | 1 YR | 3 YR |
| UTI Dynamic Bond Fund Plan Growth for NRI | 454 Cr | 1.5% | 27.01 | 6.14% | 9.12% |
| UTI Bond Fund Plan Growth for NRI | 312 Cr | 1.6% | 63.59 | 6.28% | 8.50% |
| UTI – Short Term Income Fund – Plan – Growth Option for NRI | 2,381 Cr | 0.9% | 27.65 | 6.48% | 6.36% |
| UTI Banking & PSU Debt Fund Plan Growth for NRI | 956 Cr | 0.6% | 19.14 | 6.54% | 6.45% |
| UTI – Treasury Advantage Fund – Plan – Growth Option for NRI | 3,862 Cr | 0.4% | 3114.54 | 6.93% | 6.68% |
Also read: Best Debt Mutual Funds in India 2024 for Residents and NRIs/OCIs
Top 5 Performing UTI Hybrid Mutual Funds for NRIs
| Fund Name | Fund Size (In Crores) | Expense Ratio | Current NAV (INR) | 1 YR | 3 YR |
| UTI Hybrid Equity Fund Plan Growth for NRI | 4,788 Cr | 1.9% | 544.68 | 18.09% | 22.45% |
| UTI Multi Asset Fund Plan Growth for NRI | 862 Cr | 1.9% | 52.09 | 15.93% | 12.72% |
| UTI Equity Savings Fund Growth for NRI | 283 Cr | 1.5% | 15.20 | 12.68% | 13.20% |
| UTI Savings Fund Regular Plan Growth for NRI | 1,570 Cr | 1.8% | 57.14 | 8.75% | 10.68% |
| UTI Arbitrage Fund Plan Growth for NRI | 3145 Cr | 0.9% | 30.98 | 7.00% | 4.81% |
Also read: Best SIP to Invest in 2024 – Top 10 SIP Mutual Fund Plans for NRIs/OCIs
Top Performing UTI Tax Savings Mutual Funds for NRIs
| Fund Name | Fund Size (In Crores) | Expense Ratio | Current NAV (INR) | 1 YR | 3 YR |
| UTI Long Term Equity Fund – Plan – Growth for NRI | 3,141 Cr | 1.9% | 250.41 | 11.12% | 20.87% |
Also read: List of Top Performing Liquid Funds for NRIs in 2024
Customer Care Details
For any query regarding any schemes offered by UTI Mutual Fund, you can contact the following address:
- Registered Address: UTI Tower, Plot C-1, GN Block, Banrda Kurla Complex, Bandra (East), Mumbai – 400051. Branch Timing (9 am – 6 pm)
- Phone no: 0263 2296993
How to Invest in UTI Mutual Funds as NRI?
NRIs can now download the SBNRI App and choose to invest in different mutual fund schemes from UTI Asset Management in India with ease. You can also get detailed investment advice from experts at SBNRI. Also, visit our blog and YouTube channel for more details.
SBNRI is an authorized Mutual Fund Distributor platform & registered with the Association of Mutual Funds in India (AMFI). ARN No. 246671. NRIs willing to invest in mutual funds in India can download the SBNRI App to choose from 2,000+ mutual fund schemes or can connect with the SBNRI wealth team to better understand Mutual Fund investments.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions. SBNRI does not intend to predict future returns, please read all related documents before investing.
FAQs
Can NRIs invest in UTI Asset Management Private Limited Mutual Funds?
- Yes, NRIs can invest in UTI Asset Management Private Limited Mutual Funds on a full repatriation and non-repatriation basis as long as they adhere to the Foreign Exchange Management Act (FEMA) guidelines. NRIs need to complete the KYC to invest in mutual funds in India.
How can NRI buy Mutual Funds from UTI Asset Management Private Limited?
- Step 1: Set up an NRI Account: As per FEMA guidelines, after attaining the NRI status, you can’t park your money in a regular resident savings account in India and need to open an NRE or NRO account. Once the account is activated, you can start investing.
- Step 2: Get Your KYC Done: You need to complete the KYC process before starting investment in mutual funds in India.
Are UTI Mutual Fund’s schemes safe to invest in?
- Mutual funds are subject to market conditions and all market-linked investments come with a degree of risk. However, you can choose from low-risk to high-risk mutual funds to invest in as per your risk appetite and investing goals.
Which UTI Mutual Fund scheme is best for the short term?
- Generally, a short-term investment is ideal for up to 3 years. If you are planning short-term investment, consider UTI Mutual fund debt funds for NRIs. If your investment is up to three months, UTI Mutual Fund liquid funds for NRIs are ideal for you.
What is the taxation on UTI Debt Mutual Funds?
- The debt mutual fund tax has been changed with effect from April 1, 2023, after the Budget 2023 brought certain amendments. Debt mutual funds will no longer be allowed to avail of indexation benefits from FY 23-24. Any gains made on debt mutual funds investment will now attract taxation on applicable slab rates of the investor’s income bracket.
What are Debt funds vs. Equity Funds?
- Debt funds are mutual funds that invest money into fixed-income securities, corporate bonds, treasury bills, commercial papers, and more. On the other hand equity funds invest the money into stocks/shares of the company.
Are UTI debt mutual funds safer than UTI equity mutual funds?
- Debt funds invest in fixed-income securities, corporate bonds, treasury bills, commercial papers, and more while equity funds invest in stocks/shares of the company. This makes debt funds a relatively safer option as an investment than equity funds.
Are UTI equity mutual funds safer for NRIs?
- Equity mutual funds have high volatility and can be risky for investors. However, overseeing the returns generated by equity mutual funds for the past 15 years, these funds can be a great investment vehicle and offer great wealth-generation opportunities for NRIs.
Is UTI equity mutual funds safer than FD?
- Fixed deposits have a risk-free fixed income and are safer than equity mutual funds. However, as per the returns and growth opportunity, equity mutual funds look to be a better investment option for investors, residents, and NRIs alike.
What is the UTI liquid fund taxation for NRI?
- NRIs are liable to pay taxes on the capital gain earned from Liquid funds. The short-term capital gains for sell of liquid funds for a period under 3 years of holding are taxed at investor’s slab rates. After the Budget 2023 amendments, long-term capital gains won’t enjoy any indexation benefit and will be charged as per the investor’s slab rates removing the LTCG benefits altogether.
Can I invest from the USA in the UTI Mutual Fund?
- Yes an NRI can invest from the USA in India in various mutual fund schemes offered by UTI Asset Management provided it complies with the FEMA Act, RBI guidelines, and SEBI guidelines.
Can NRI invest in SIP in UTI Mutual Fund in India?
- Yes, an NRI can invest in India through the SIP route in UTI Mutual Fund Schemes. SIP stands for Systematic Investment Plan.
