Banned Trade

The Unit Trust of India (UTI) has chalked out a multi-pronged strategy to mop-up funds during 1999-2000, to be backed by a marketing blitz on each front. The gameplan includes remarketing all six open-ended equity schemes and adding new features to the Unit Linked Insurance Plan (ULIP).

The steps are aimed at reaching the target figure of Rs 17,000 crore by the end of the July-June financial year. In an interview with Business Standard, Brij Gopal Daga, UTI executive director - marketing, said a major move would be to aggressively remarket all the six open-ended equity schemes of UTI this fiscal. This would include Master Index Fund, UGS-10000, Mastergain, Masterplus, Grandmaster and the Primary Equity Fund.

 

"I have been meeting all our teams countrywide, and this year they are very bullish on the mopup. Besides, the equity schemes need to be aggressively remarketed this year. The market's looking good," Daga said. A key feature of this new remarketing initiative would also be to add new features to ULIP, he said. "We are working on the aspects of the scheme which can be added or improved upon. The section 80A aspect and the insurance aspect are being worked on," he said.

Daga pointed out that the UTI growth sector fund, launched a couple of months ago and which mopped up Rs 73 crore, would be reopened shortly.