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UTI Asset Management Company Limited (UTIAMC)

₹869.90 -0.51% last close, 16 Oct

📊 NSE: UTIAMC 🏢 Finance & Investments 📢 Latest filing: 08 Oct 2026 📝 Analysis written: 14 Dec 2025

Q2 FY27 results

📅 Next results: 23 Oct 2026 (board meeting)

UTI Asset Management Company Limited's board meets on 23 Oct 2026 to consider its Q2 FY27 results (July-September 2026).

In its latest reported quarter, Q1 FY27, UTI Asset's net interest income was ₹580 Cr, and net profit ₹294 Cr (+15.8% year on year).

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Net interest income	₹580	—	—
Operating profit	₹368	+12.9%	—
Net profit	₹294	+15.8%	—
EPS (₹)	22.86	+23.6%	—

Full quarterly financials → Results calendar →

UTIAMC delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 54.99% of the UTIAMC shares traded on NSE were taken to delivery, against the stock's own 20-session average of 56.4%. That is close to its usual level. Volume was 0.5 times its average, well below normal.

54.99%Delivery, 16 Oct

56.4%Own 20-session average

0.5×Volume vs its average

₹869.90NSE close · -0.51%

Delivery in the last 5 sessions: 55.2% · 56.0% · 55.1% · 55.0% · 55.0%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

UTI AMC Shareholders Approve Appointment of Independent Director with 99.995% Majority

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 08 Oct 2026, 03:30 PM

UTI Asset Management Company has disclosed the voting results of its postal ballot concluded on October 7, 2026. Shareholders approved the special resolution for the appointment of Mr. Narayan Subramaniam Ayypankav as Non-Executive Independent Director, not liable to retire by rotation. The resolution passed overwhelmingly, receiving 99.9951% votes in favor out of 11,30,63,575 total votes polled. Overall shareholder participation stood at 87.96% of outstanding shares.

Resolution approved with 99.9951% votes in favor (11,30,58,035 shares) and 0.0049% against (5,540 shares)
Overall voter turnout represented 87.9605% of total outstanding shares (11,30,63,575 votes polled out of 12,85,39,028 shares)
Institutional shareholders showed strong participation of 99.06% (11,26,45,565 votes), voting 100% in favor
Remote e-voting was open from September 8, 2026 to October 7, 2026, across 1,73,643 shareholders on the record date (September 4, 2026)

💡 Track subsequent board committee appointments and broader corporate governance disclosures in upcoming periodic filings.

UTI AMC Receives ₹3.32 Cr Income Tax Penalty Order for AY 2020-21; to File Appeal

🟡 NEUTRAL ⭐ 3/10

LEGAL 📅 28 Sep 2026, 06:40 PM

UTI Asset Management Company has received an Income Tax penalty order under Section 270A of the Income Tax Act, 1961, totaling ₹3,31,66,997. The order was issued by the National Faceless Assessment Centre for Assessment Year 2020-21 following disallowances made during assessment proceedings for FY 2019-20. The penalty amount represents approximately 0.20% of UTI AMC's TTM revenue of ₹1,652 Cr and 0.28% of TTM PAT of ₹1,176 Cr. The company stated that there is no material impact on operations and plans to appeal before the appellate authority within the prescribed timelines.

Penalty order received under Section 270A of the Income Tax Act for ₹3,31,66,997
Pertains to Assessment Year 2020-21 (FY 2019-20) following disallowance of certain items
Order received on 26th September 2026 from the Assessment Unit, National Faceless Assessment Centre
Company plans to contest and file an appeal before the appropriate appellate authority

💡 Track subsequent disclosures on whether an interim stay is obtained or if any provisioning is made in upcoming quarterly results.

UTI AMC Allots 994 Equity Shares Under Employee Stock Option Scheme

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 18 Sep 2026, 10:34 AM

UTI Asset Management Company Limited has allotted 994 equity shares of face value ₹10 each pursuant to the exercise of options under the UTI AMC Employee Stock Option Scheme - 2007. The allotment was approved by the Nomination and Remuneration Committee on September 17, 2026. Following this, the company's paid-up share capital marginally increases from ₹1,28,53,92,280 to ₹1,28,54,02,220, representing 12,85,40,222 equity shares. The new equity shares will rank pari-passu in all respects with the existing shares.

Allotment of 994 equity shares of face value ₹10 each under ESOP Scheme - 2007
Approval granted by Nomination and Remuneration Committee on September 17, 2026
Total paid-up share capital increased from ₹1,28,53,92,280 to ₹1,28,54,02,220
Total number of issued shares expanded from 12,85,39,228 to 12,85,40,222

💡 This is a routine administrative update regarding ESOP allotment with negligible dilution; no specific action is required from investors.

UTI AMC to Attend Anand Rathi Flagship Conference on September 22, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 16 Sep 2026, 03:25 PM

UTI Asset Management Company has informed the exchanges regarding a scheduled senior management interaction with institutional investors. The company will participate in the Anand Rathi Annual Flagship Conference G-200 Summit 2026 on September 22, 2026, in Mumbai. The interaction will be an in-person group meeting, and the company stated that no Unpublished Price Sensitive Information (UPSI) will be shared.

Scheduled meeting date is September 22, 2026, starting at 0900 hrs IST
Participation at the Anand Rathi Annual Flagship Conference G-200 Summit 2026
Meeting format confirmed as an in-person group meet at Taj Santacruz, Mumbai
Company confirmed no Unpublished Price Sensitive Information (UPSI) will be disclosed

💡 Track subsequent post-meet presentation filings or disclosures if published on exchange portals for operational updates.

UTI AMC Allots 200 Equity Shares Under ESOP 2007 Scheme

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 09 Sep 2026, 03:13 PM

UTI Asset Management Company Limited has allotted 200 equity shares of face value ₹10 each pursuant to an exercise of options under its Employee Stock Option Scheme – 2007. The allotment was approved by the Nomination and Remuneration Committee on September 9, 2026. Following this issuance, the company's paid-up share capital increases marginally from ₹1,28,53,90,280 to ₹1,28,53,92,280. The dilution impact from this allotment is negligible.

Allotment of 200 equity shares of face value ₹10 each under ESOP Scheme – 2007
Paid-up share capital increases from ₹1,28,53,90,280 to ₹1,28,53,92,280
Total number of issued equity shares increases from 12,85,39,028 to 12,85,39,228
Approval granted by Nomination and Remuneration Committee on September 9, 2026

💡 No action is required as this is an administrative ESOP allotment with negligible equity dilution.

UTI AMC Issues Postal Ballot Notice for Appointment of Independent Director

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 07 Sep 2026, 04:12 PM

UTI Asset Management Company Limited has issued a postal ballot notice to seek shareholder approval for the appointment of Mr. Narayan Subramaniam Ayypankav as a Non-Executive Independent Director. The proposed appointment is for a term of three consecutive years, effective from July 31, 2026 to July 30, 2029. The remote e-voting window is open from September 8, 2026 to October 7, 2026, with a record cut-off date of September 4, 2026. The final voting results are scheduled to be announced on or before October 9, 2026.

Proposed appointment of Mr. Narayan Subramaniam Ayypankav as Non-Executive Independent Director
Appointment tenure spans 3 consecutive years from 31st July, 2026 upto 30th July, 2029
Remote e-voting commences on 8th September, 2026 and closes on 7th October, 2026
Cut-off date for eligible voters fixed as 4th September, 2026; voting results expected on or before 9th October, 2026

💡 Eligible shareholders on the record cut-off date of September 4, 2026 may cast their votes before October 7, 2026; track the final voting results announcement on October 9, 2026.

UTI AMC Allots 200 Equity Shares Under ESOP Scheme

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 21 Aug 2026, 03:58 PM

UTI Asset Management Company Limited announced that its Nomination and Remuneration Committee approved the allotment of 200 equity shares of face value ₹10 each on August 21, 2026. The allotment was made pursuant to the exercise of options under the UTI AMC Employee Stock Option Scheme – 2007. Following this, the company's paid-up share capital increased marginally from ₹1,28,53,88,280 (12,85,38,828 shares) to ₹1,28,53,90,280 (12,85,39,028 shares).

Allotment of 200 equity shares of face value ₹10 each under ESOP 2007
Paid-up share capital increases from ₹1,28,53,88,280 to ₹1,28,53,90,280
Total share count rises from 12,85,38,828 to 12,85,39,028 equity shares
Approved by the Nomination and Remuneration Committee on August 21, 2026

💡 No action required; this is a routine administrative filing with negligible impact on shareholding.

UTI AMC Schedules 1-on-1 Investor Meeting with Avendus Spark on Sept 2, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 19 Aug 2026, 10:15 AM

UTI Asset Management Company Limited has informed the exchanges regarding a scheduled one-on-one analyst/institutional investor meeting. The meeting is set with Avendus Spark Institutional Equities on September 2, 2026, at 16:00 hrs IST. It will take place in person at the company's Corporate Office in BKC, Mumbai. The company affirmed that no unpublished price sensitive information (UPSI) will be shared.

Meeting scheduled for September 2, 2026, at 1600 hrs IST
One-on-one interaction with Avendus Spark Institutional Equities
In-person meeting at UTI AMC Corporate Office, BKC, Mumbai
Company confirmed no Unpublished Price Sensitive Information (UPSI) will be shared

💡 Track subsequent disclosures or investor presentations, if any, uploaded post-meeting, along with overall AUM growth metrics in the upcoming quarterly results.

Aug 24, 2026: UTIAMC schedules one-on-one meeting with New Horizon Investments

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Aug 2026, 03:14 PM

UTI Asset Management Company (UTIAMC) has scheduled a one-on-one meeting with New Horizon Investments for August 24, 2026, at 16:30 IST. The meeting will be conducted via video conference and is a routine disclosure under SEBI Listing Obligations. The company has explicitly stated that no unpublished price-sensitive information (UPSI) will be shared during this interaction. This follows a period where the company reported a TTM revenue of Rs 1,442 Cr and maintains a strong 24.62% market share in the NPS industry AUM.

One-on-one meeting scheduled for August 24, 2026, at 16:30 hrs IST
Interaction with institutional investor New Horizon Investments via Video Conference
Company confirms no Unpublished Price Sensitive Information (UPSI) will be shared
UTI Pension Fund manages 24.62% of the NPS Industry AUM as per recent context

💡 Investors should monitor the company's website for any post-meeting transcripts or investor presentations to gauge management's outlook on AUM growth and the Alternatives business.

UTIAMC Schedules One-on-One Meeting with New Horizon Investments for August 24, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Aug 2026, 03:08 PM

UTI Asset Management Company Limited (UTIAMC) has announced a one-on-one meeting with New Horizon Investments scheduled for August 24, 2026, at 16:30 IST. The meeting will be conducted via video conference from the company's corporate office in Mumbai. This is a routine disclosure under SEBI Listing Obligations and Disclosure Requirements. The company has explicitly stated that no unpublished price sensitive information (UPSI) will be shared during this interaction.

Meeting scheduled for August 24, 2026, at 16:30 IST via video conference
One-on-one interaction with institutional investor New Horizon Investments
UTIAMC manages a massive Group AUM of ₹22,41,837 Cr as of September 30, 2025
Company maintains a high operating profit margin (OPM) of 53.2% on TTM revenue of ₹1,442 Cr

💡 Investors should monitor the company's website for any post-meeting transcripts or presentations that might provide updates on the growth of the 'Alternatives' business or NPS market share.

UTIAMC schedules one-on-one meeting with Choice Institutional Equities on August 17

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 11 Aug 2026, 04:47 PM

UTI Asset Management Company Limited (UTIAMC) has announced a scheduled one-on-one meeting with Choice Institutional Equities. The meeting is set for August 17, 2026, at 16:00 IST at the company's corporate office in Mumbai. This is a routine regulatory disclosure under SEBI (LODR) Regulations, 2015. The company has explicitly stated that no unpublished price-sensitive information (UPSI) will be shared during this interaction.

Meeting scheduled for August 17, 2026, at 16:00 IST
One-on-one interaction with Choice Institutional Equities
In-person meeting to be held at the Corporate Office in BKC, Mumbai
Disclosure made under Regulation 30 of SEBI (LODR) Regulations

💡 Investors should monitor the exchange for any post-meeting presentations or transcripts that may provide qualitative insights into management's strategy for AUM growth or margin management.

UTI AMC Re-constitutes 4 Board-level Committees Effective August 7, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Aug 2026, 02:27 PM

UTI Asset Management Company (UTI AMC) has announced the re-constitution of four key board-level committees: Risk Management, Stakeholders Relationship, Unitholder Protection, and FINCON Governance. These changes were approved via circular resolution on August 7, 2026, and are effective immediately. The committees include a mix of Independent, Nominee, and Additional Directors, ensuring compliance with SEBI Listing Regulations. This is a procedural governance update and does not impact the company's financial performance or its Rs 22,41,837 Cr Group AUM.

4 board-level committees re-constituted effective August 7, 2026
Ms. Jayashree Vaidhyanathan appointed as Chairperson of the Risk Management Committee
Mr. Narayan Subramaniam Ayypankav (Additional Director) added to 3 out of 4 re-constituted committees
Mr. Santosh Kumar (Nominee Director) to chair the Stakeholders Relationship Committee
Ms. P V Bharathi (Independent Director) to chair the Unitholder Protection Committee

💡 This is a routine administrative update. Investors should continue to focus on AUM growth trends and the impact of market volatility on management fees, as 69% of MF AUM is equity-oriented.

UTIAMC schedules one-on-one meeting with WhiteOak Capital for August 20, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Aug 2026, 11:42 AM

UTI Asset Management Company (UTIAMC) has issued a revised schedule for a one-on-one meeting with WhiteOak Capital Asset Management. The meeting is now confirmed for August 20, 2026, at 16:00 hrs IST at the company's corporate office in Mumbai. This is a routine investor relations update following a previous intimation on July 31, 2026. The company has explicitly stated that no unpublished price-sensitive information (UPSI) will be shared during this interaction.

Meeting rescheduled for August 20, 2026, at 16:00 hrs IST
One-on-one interaction with WhiteOak Capital Asset Management
Venue confirmed as the Corporate Office in BKC, Mumbai
Company confirms 0% sharing of unpublished price-sensitive information (UPSI)

💡 Investors should monitor the company's website for any post-meeting investor presentations or transcripts that may provide qualitative insights into management's strategy for AUM growth.

4,263 Equity Shares Allotted Under UTI AMC Employee Stock Option Scheme

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Aug 2026, 11:05 AM

UTI Asset Management Company (UTIAMC) has allotted 4,263 equity shares of face value ₹10 each to eligible employees. This allotment follows the exercise of options under the 'UTI AMC Employee Stock Option Scheme – 2007'. The total paid-up share capital has increased marginally from ₹1,28,53,45,650 to ₹1,28,53,88,280. The dilution caused by this allotment is negligible at approximately 0.0033% of the total equity.

Allotment of 4,263 equity shares of face value ₹10 each approved on August 6, 2026
Total paid-up share capital increased to ₹1,28,53,88,280 from ₹1,28,53,45,650
Total number of equity shares post-allotment stands at 12,85,38,828
Approval granted by the Nomination and Remuneration Committee at 09:30 hrs IST

💡 This is a routine administrative filing. Investors should continue to monitor the company's quarterly AUM growth and expense ratios as primary performance drivers.

UTIAMC Schedules One-on-One Meeting with WhiteOak Capital for August 7, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 31 Jul 2026, 05:23 PM

UTI Asset Management Company Limited (UTIAMC) has announced a scheduled one-on-one meeting with WhiteOak Capital Asset Management. The meeting is set for August 7, 2026, at 16:00 hrs IST at the company's corporate office in Mumbai. This is a routine regulatory disclosure under SEBI LODR Regulations. The company has explicitly stated that no unpublished price sensitive information (UPSI) will be shared during this interaction.

Meeting scheduled for August 7, 2026, at 16:00 hrs IST.
The interaction is a one-on-one meeting with WhiteOak Capital Asset Management.
The meeting will take place in person at the Corporate Office in BKC, Mumbai.
UTIAMC manages a total Group AUM of INR 22,41,837 Cr as of September 30, 2025.

💡 Investors should monitor the company's website for any post-meeting presentations or transcripts that may provide qualitative insights into management's strategy for B30 city penetration and NPS market share.

View All UTIAMC Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Core Revenue from Sale of Services grew 8% YoY to INR 769 Cr in H1 FY26. However, Total Revenue from Operations declined 10% YoY to INR 965 Cr, primarily driven by a 50% decrease in Net Gain on fair value changes (M2M gains) which fell from INR 332 Cr to INR 167 Cr. Interest and Dividend income grew 16% YoY to INR 22 Cr.

Geographic Revenue Split

UTI AMC has a presence in 698 districts in India. A significant focus is on B30 (Beyond Top 30) cities, where 205 out of 255 UTI Financial Centres (80%) are located. International revenue is supported by offices in Singapore, London, Paris, Dubai, and New York.

Profitability Margins

PAT Margins compressed significantly to 27% in Q2 FY26 compared to 44% in Q2 FY25. This was caused by a 38% YoY surge in Employee Benefit Expenses (INR 159 Cr in Q2 FY26) and a 91% drop in M2M gains for the quarter. H1 FY26 PAT Margin stood at 36% vs 46% in H1 FY25.

EBITDA Margin

Core EBITDA (excluding M2M and non-operating income) declined 6% YoY in H1 FY26. Consolidated EBITDA declined 26% YoY due to higher operating expenses and lower treasury gains. Core PAT for H1 FY26 was INR 228 Cr, down 8% YoY, though normalized Core PAT (adjusting for one-offs) grew 1% YoY to INR 248 Cr.

Capital Expenditure

Not explicitly disclosed as a single INR Cr figure, but the company is investing in digital transformation, evidenced by a 17.97% increase in digital purchase transactions to 52.74 lakh and the expansion of the New York and DIFC offices.

Credit Rating & Borrowing

UTI AMC maintains a superior liquidity position with access to sanctioned bank facilities of INR 15,525 Cr, including INR 4,000 Cr fund-based and INR 11,450 Cr intraday facilities. It utilizes TREPS for overnight borrowing to manage temporary mismatches.

⚙️ Operational Drivers

Raw Materials

Human Capital (Employee Costs) represents the primary 'raw material' cost, accounting for 29.8% of total H1 FY26 revenue (INR 288 Cr).

Import Sources

Not applicable as UTI AMC is a financial services firm; however, it sources global investment advisory talent through its offices in the USA, UK, UAE, and Singapore.

Key Suppliers

Not applicable; primary dependencies are on ~75,000 distributors and digital platform providers for fund distribution.

Capacity Expansion

Total Group AUM stood at INR 22,41,837 Cr as of September 30, 2025, growing 11.18% YoY. UTI MF QAAUM reached INR 3,78,413 Cr, a 10.47% YoY increase. The company is expanding its 'Alternatives' capacity with the launch of SDOF IV in August 2025.

Raw Material Costs

Employee Benefit Expenses rose 26% YoY in H1 FY26 to INR 288 Cr. This increase is driven by a one-time INR 25 Cr charge for VRS/family pension revisions and regular increments to retain the investment team.

Manufacturing Efficiency

Digital adoption efficiency: 95.11% of total transactions are now digital. Folio count stands at 1.36 crore, reflecting high retail reach efficiency.

Logistics & Distribution

Distribution is handled via 255 Financial Centres and 81 District Associates. Fee and Commission expenses remained stable at INR 2 Cr for H1 FY26.

📈 Strategic Growth

Expected Growth Rate

10-15%

Growth Strategy

Growth will be achieved through: 1) Deepening penetration in B30 cities (Tier 2/3) where 80% of centers are located. 2) Scaling the Alternatives business (SDOF series). 3) Leveraging the Pension Fund subsidiary which holds a 24.62% NPS market share. 4) New product launches like the Multi Cap Fund which added INR 1,576 Cr to AUM within months of launch.

Products & Services

Equity Mutual Funds (UTI Mastershare), Debt Mutual Funds, Liquid Funds, Retirement Solutions (NPS), Alternative Investment Funds (SDOF IV), Portfolio Management Services (PMS) for EPFO/CMPFO, and Offshore Funds.

Brand Portfolio

UTI Mutual Fund, UTI Mastershare, UTI Swatantra, UTI Multi Cap Fund, UTI Alternatives, UTI Pension Fund.

New Products/Services

UTI Multi Cap Fund (launched May 2025) contributed INR 1,576 Cr to AUM. Structured Debt Opportunities Fund IV (SDOF IV) launched in August 2025 to grow the private credit business.

Market Expansion

Expanding cross-border advisory through the New York office and seeking regulatory approvals in DIFC (Dubai) to capture global investor interest in Indian equities.

Market Share & Ranking

UTI AMC is among the top 10 AMCs in India. UTI Pension Fund manages 24.62% of the NPS Industry AUM.

Strategic Alliances

Collaborations with major banks (HDFC, Axis) and digital platforms to enhance distribution reach.

🌍 External Factors

Industry Trends

The industry is shifting toward digital-first transactions (95% for UTI) and B30 city participation. Passive funds and Multi-asset categories are growing, while the industry SIP stoppage ratio has increased to 76.27%.

Competitive Landscape

Competes with bank-backed AMCs (SBI, HDFC, ICICI) and new-age digital AMCs. UTI differentiates through its strong presence in the Pension and Alternative segments.

Competitive Moat

Moat is built on being the 'Oldest Mutual Fund in India' with high brand trust and a massive distribution network of 75,000 partners. Sustainability is driven by the sticky nature of SIP AUM (INR 42,267 Cr).

Macro Economic Sensitivity

Highly sensitive to capital market performance and retail sentiment. Industry SIP contributions reached a record INR 29,361 Cr in September 2025, supporting UTI's INR 2,338 Cr quarterly SIP inflow.

Consumer Behavior

Increasing preference for Systematic Investment Plans (SIPs) and digital transaction modes (17.97% YoY growth in digital purchases).

Geopolitical Risks

Global expansion in London, Paris, and New York exposes the firm to international regulatory shifts and cross-border capital flow restrictions.

⚖️ Regulatory & Governance

Industry Regulations

Governed by SEBI (Mutual Funds) Regulations, SEBI (Portfolio Managers) Regulations, and PFRDA for pension funds. New certification requirements for SIF (Specialist Investment Funds) distribution impact sales training.

Environmental Compliance

ESG principles are being embedded across the firm; UTI SDOF II & III have well-defined ESG policies. Specific compliance costs not disclosed.

Taxation Policy Impact

Effective tax rate is standard corporate rate; a deferred tax asset may be created due to the 5-year amortization of VRS costs under the Income Tax Act.

Legal Contingencies

A one-time financial impact of INR 25 Cr was accounted for in Q2 FY26 related to the revision of family pension benefits under the VRS package.

⚠️ Risk Analysis

Key Uncertainties

Market risk on treasury investments (INR 3,860 Cr) and AUM-linked fee income. A significant market correction could impact PAT by over 20% due to the high equity mix (69%).

Geographic Concentration Risk

Domestic-heavy, but diversified across 698 districts. No single region concentration disclosed.

Third Party Dependencies

High dependency on independent financial advisors and national distributors for the INR 2,338 Cr quarterly SIP mobilization.

Technology Obsolescence Risk

Mitigated by high digital adoption (95% of transactions) and a dedicated Digital Transformation Committee.

Credit & Counterparty Risk

Exposure in debt schemes is monitored via a dedicated Risk Management Team; one passive breach in a debt scheme (10% limit) was recently rebalanced within SEBI timelines.