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This is an archive article published on May 20, 1997

UTI shows Rs 500 crore net outflow

CALCUTTA, May 19: Unit Trust of India (UTI), the country's largest mutual fund, has recorded a net outflow of funds of approximately Rs 500...

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CALCUTTA, May 19: Unit Trust of India (UTI), the country’s largest mutual fund, has recorded a net outflow of funds of approximately Rs 500 crore till May 10, 1997, the latest available figure for its year ending June 30.

Between July 1, 1996, and May 10 this year, sales under various schemes added up to Rs 6,500 crore (including dividend reinvested under the US-64 scheme).

But outgo on account of repurchases under US-64 and 13 equity schemes was Rs 7,000 crore, according to top UTI sources.

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Among the equity schemes where repurchase facility is available are MEP 91-94, Primary Equity Fund, Equity Opportunity Fund, UGS 2000, UGS 5000, US-92, Grandmaster and Mastergain.

Giving a break-up of the sales in 1996-97, senior UTI officials said bulk of the sales have come from US-64 (Rs 1,700 crore) and monthly income plans (Rs 1,700 crore).

As for Mastergain ’92, which is now a much leaner and fitter scheme with a corpus of Rs 2,200 crore, sources said the scheme had on an average a weekly redemption of Rs 2 to Rs 4 crore.

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