Utis Net Outflow In Last Five Months At Rs 1165

Unit Trust of India's net outflow for the five months ended November 2001 accounted for 39 per cent of the net outflow for the whole of fiscal 2000-01. Its cumulative net outflow at Rs 1,165 crore (excluding Rs 688 crore maturity redemption of two schemes) during July-November 2001 (till November 14, 2001) was against a net outflow of Rs 2,966 crore during fiscal 2000-01.

In the five months under review, the fund house had a repurchase of Rs 2,042 crore as against a sales mobilisation of Rs 877 crore. The total net outflow for the period, including maturity redemptions, worked out to Rs 1,853 crore. This accounted for 62 per cent of the total fiscal 2000-01's net outflow.

It was in October 2001 that the fund house had a maturity redemption of two schemes namely MIP 96(III) to the tune of Rs 410 crore and the Deferred Income Plan of Rs 278 crore.

The net outflow was also skewed with US 64's repurchases to tune of Rs 338 crore as against a freeze on sales mobilisations for the scheme.

ULIP, the open ended balance scheme with a definite maturity plan, had a net outflow of Rs 236 crore during the period. The scheme's total sales was Rs 136 crore as against redemption of Rs 372 crore.

Unlike other schemes, Master Index Fund caught the investors' fancy with a net inflow of Rs 34 crore during the period. The scheme's sales mobilisation was to Rs 94 crore as against Rs 60 crore repurchase during the period.

The money market scheme had a net outflow of Rs 198 crore despite an inflow of Rs 303 crore. Similarly, UTI's bond funds had a net outflow of Rs 204 crore with a total sales of Rs 145 crore.