In an unprecedented move, the Unit Trust of India today suspended sale and repurchase of its flagship scheme US-64 for six months and announced one of the lowest-ever dividends of 10 per cent for the financial year ended June 30, 2001.
Announcing the results of the various schemes, PS Subramanyam, chairman, Unit Trust of India, said the six month suspension period would be used for restructuring US-64, which has a unit capital of Rs 12,778 crore.
He however remained non-committal on the transition to a daily net asset value (NAV) pricing structure by February 2002.
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