After taking overs the chairman, Subramanyam said sale of shares and their price in case of a takeover should be a decision which each institution should take independently. The new chairman also plans to play a supplementary role in making corporates achieve better standards of corporate governance.

``At the same time institutions should adopt a collective approach when deciding whether or not exiting from a company is in the interest of their shareholders,'' he said.

On the role of UTI in bringing in greater corporate governance in the Indian corporate world, he said that corporate chiefs have told him that it is in the enlightened interest of acorporate to bring in corporate governance.

Subramanyam intends to convert the one lakh strong sales agent force into an exclusive marketing arm of the Trust. He plans to bring about marketing synergy with its proposed insurance activity, which will lead to agents receiving more business. UTI does not plan to increase the commission but plans to compensate the agents by giving them higher volume of business by offering more products.

``Today the agent markets other products as well because he does not have enough products from UTI on his plate.''