<Tr> <Th> Subsidiaries </Th> <Td> UTI Asset Management Company, UTI International Limited, UTI Ventures </Td> </Tr> <Tr> <Th> Website </Th> <Td> www.utimf.com </Td> </Tr> <P> UTI Mutual Fund was carved out of the erstwhile Unit Trust of India (UTI) as a SEBI registered mutual fund from 1 February 2003 . The Unit Trust of India Act 1963 was repealed, paving way for the bifurcation of UTI into--Specified Undertaking of Unit Trust of India (SUUTI); and UTI Mutual Fund (UTIMF). </P> <P> UTI Mutual Fund is promoted by the four of the largest Public Sector Financial Institutions as sponsors, viz., State Bank of India, Life Insurance Corporation of India, Bank of Baroda and Punjab National Bank with each of them holding a 18.24% stake in the paid up capital of UTI AMC . </P>

Under sebi rules which part of the divided uti is working as mutual fund