In 1964, UTI launched its first investment scheme Unit Scheme-1964 initially RBI had the regulatory and administrative control.

Investment decisions based on political compulsions taken by those in key positions exacerbated by the political instability in the 1990s and the consequent market rout and took a toll on the Unit Scheme-1964 which ultimately led to the government intervention in 2002 with a bailout package and the act to repeal and transfer the undertakings of the trust.

While the former came under the Administrator of the Specified Undertaking of The Unit Trust of India (SUTTI) and the latter became the asset manager, UTI Mutual Fund.

The company manages the portfolios of domestic and offshore funds and offers discretionary, non-discretionary and advisory services to HNI clients, corporates, and institutions; and also offers retirement solutions and private equity funds in India and 35+ countries through the principal and subsidiary business entities.

It also manages pension funds in India and currently has an investor base of more than 12 million live folios.