One more player is entering the asset management business. Bajaj and Allianz, who have come together to sell insurance, have also joined hands to set up a mutual fund business. With the best existing funds performing merely in line with the market and most others doing horribly, we are not sure how Bajaj Allianz will be different. When asked, Ranjit Gupta, president (insurance), Bajaj...

UTI is merging schemes, but for whose benefit?

Unit Trust of India has been in the business of mutual funds for decades now. Through these years it has come out with over 90 schemes, of which 29 are equity-related schemes. It launched UTI Infrastructure Advantage Fund in January 2008 just before a horrific bear assault hit the Indian market that has decimated the Sensex by 60%. However, with...