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SBI and UTI MFs to manage post-office insurance funds

Government of India has appointed the public-sector mutual funds; UTI MF and SBI MF as fund managers for postal and rural life insurance entities. They will invest the fund available with these entities into the booming capital market.

Apnainsurance.com Research Bureau

13 Dec 2008

Thye Government of India appointed public-sector mutual funds; UTI MF and SBI MF as fund managers for postal and rural life insurance entities. They will invest the fund available with these entities into the booming capital market.

According to Finance Minister, the public-sector fund managers will follow safe and constructive investment policies while managing these funds.

The total corpus lying with the Post Office life insurance and Rural Post Office life insurance is Rs. 8,934 crore and  Rs. 1, 625 crore respectively.