UTI AMC Chairman Exits, DSP Mutual Fund Launches New Debt Scheme

UTI Asset Management Company (AMC) announced the departure of its Chairman and Non-Executive Independent Director, Deepak Kumar Chatterjee, effective from the closure of business hours on July 28, 2026, upon the scheduled completion of his term.

Mr. Chatterjee’s exit signifies a change in the leadership structure at UTI AMC. Consequently, all official references to him within the company’s Statement of Additional Information (SAI) will be formally deleted, reflecting his cessation as a Director on the Board.

DSP Mutual Fund Files for New Sectoral Debt Fund

In a separate market development, DSP Mutual Fund has filed an offer document with the Securities and Exchange Board of India (SEBI) to launch an open-ended debt scheme. This new offering is specifically named the ‘DSP Financial Services Sectoral Debt Fund’, signaling its targeted investment focus.

The proposed scheme aims to provide investors with exposure to the financial services sector through debt instruments. Its design as an open-ended fund means investors can subscribe to or redeem units on an ongoing basis.

• New Fund Offer (NFO) price: Rs 10 per unit
• Entry and exit load: Nil, providing cost-efficiency for investors
• Minimum Target Amount: Rs 20 crore, indicating the initial capital collection goal
• Minimum application: Rs 100, making the scheme accessible to a broad investor base
• Performance benchmark: Crisil Financial Services Short Term Debt IndexB-II

Investors will have the choice between a Growth Option and an Income Distribution Cum Capital Withdrawal Option, catering to different investment preferences. The regulatory filing with SEBI is a crucial step towards the fund’s official launch, pending necessary approvals.