Uti Income Plans Put Up Good Show

Unit Trust of India's (UTI) 49 income-oriented schemes net income increased 37.8 per cent to Rs 4,917 crore as compared with Rs 3,568 crore for the year ended June 30, 1999. While the investible funds surged 21.3 per cent to Rs 40,035 crore from Rs 33,010 crore during the same period in the previous year. While reserves and surplus increased from Rs 2,076 crore on June 30, 1999, to Rs 4,474 crore on March 31, 2000, up 115.5 per cent.

The fund attributes the performance to active equity portfolio rebalancing and overall improvement in the quality of debt assets during the nine months of the year.

 

Three new schemes were launched during the period July-December 1999, namely, MIP 99(II), G-Sec Fund and MIP 2000. These schemes mobilised over Rs 2,900 crore during the period.

MIP 94 (III), the scheme which terminated during the first half of the year had a return 15.2 per cent and 13.14 per cent under the cumulative and monthly options, respectively.

US-95, the star performer among the income funds, declared a special millennium dividend of 15 per cent. US 95 had been restructured during the year, positioning it as a net asset value (NAV)-based balanced fund. NAV of US 95 appreciated by as much as 65 per cent over 9 months ended March 31, 2000. Under the G-Sec Fund, a gilts fund, the returns were 17.03 per cent over three months ended March 31, 2000.