Reserve Fund To Be Tapped To Bring Us-64 Back To Life

The Unit Trust of India is planning an ingenious way to infuse funds into its beleaguered scheme US-64.

The restructuring plan, which envisages bringing the scheme into the NAV mode by the end of this fiscal, involves tapping the Rs 1,500 crore development reserve fund (DRF) of UTI.

According to a top UTI executive, the institution plans to transfer the real estate investments and debt portfolio of US-64 to the DRF at market value and draw an equal amount from the fund.