Milltrust International, the UK and Singapore-based emerging markets platform, has added a fourth manager to its recently launched?suite of UCITS IV funds?as it aims to build a full Emerging Markets offering using best of breed regional managers.

For its latest fund,?Indian equities, it has selected the quasi-sovereign entity,?UTI, the oldest mutual fund company in the country.

?Our objective is to provide investors with access to?best of breed investment managers through a single managed accounts platform?and we are delighted to have forged this relationship with UTI? said Milltrust CEO, Simon Hopkins.

UTI is owned by four of India?s largest state owned financial institutions, but in recent years,?T Rowe Price, the US money manager, has acquired a significant strategic shareholding in UTI. They bring a new dimension of rigour to UTI?s investment process and work closely with UTI?s international business?, says Hopkins.

?The history of UTI is intertwined with the evolution of capital markets in India and our reputation has been built over the years on a solid research-based investment process?, said Praveen Jagwani, CEO of UTI International, Singapore. ?We have now assembled a highly skilled cadre of professionals in the asset management team who, together with Milltrust, will build the reputation of this firm internationally?, he said.

?India is an essential component of a GEMS portfolio and the recent economic reforms announced by the Government, only serve to underscore the growth prospects of the country?, says Jagwani, in a direct reference to the USD 8 billion of investments made by Foreign Institutions in the first 8 months of 2012.

The Milltrust building blocks, managed by some of the world’s top locally based investment managers drawn from the various emerging markets, enable investors to benefit from all the advantages of a single?GEMS portfolio?but with the ability to overweight and underweight the country exposure according to their own macro views.

Investors also benefit from all the advantages of transparency, daily NAVs and liquidity safeguards?as the role of investment advisor is clearly separated from the fiduciary function, with client assets held securely by?State Street, the world’s largest global custodian.

Milltrust anticipates launching its?ASEAN fund?before year-end and a?pan-Africa?equity fund in Q1 next year.

Milltrust also announced the addition of veteran marketer,?Ian Fisher, to its UK-based business development team. ?Ian brings many years of institutional markets experience to Milltrust, having worked at S3 Partners, Threadneedle, Pioneer and Schroders in a career spanning 18 years?, said CEO, Simon Hopkins.

Notes to editors:
About UTI Asset Management Company
UTI Asset Management Company is one of the largest retail asset managers in India, with more than 10 million investor accounts and assets under management of close to $12 billion (?9.6 billion). Established in 1964 as the Unit Trust of India by an Act of Indian Parliament, it has one of the largest market shares of domestic assets and retail clients while also being one of the first pension fund managers there.


Milltrust International is an investment platform which provides institutional investors with access to the best investment opportunities from across the emerging markets in both public and private equity.

Milltrust International Group (Singapore) Pte Ltd. is a group holding company for the group’s operating companies, which include Milltrust International LLP, authorised and regulated by the Financial Services Authority of the United Kingdom, and its wholly owned subsidiary Milltrust International (Singapore) Pte Ltd, a company that operates in Singapore under the exemption provisions of the Securities and Futures (Licensing and Conduct of Business) Regulations (Rg 10).