Unlisted debt weighs down 37 UTI schemes

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Mumbai, February 1:: the half year (December 2001), the NAV has shrunk by Rs 74.39 crore to Rs 655.64 crore or Rs 74.39 crore (10.19 per cent).

This pattern of high investments in unlisted debt papers is seen across the portfolios of 37 schemes. Included in the list of schemes whose unaudited portfolio was announced (as of December 31, 2001) are: CRTS (66.22 per cent investment in unlisted debt); RBUP-94 (67.28 per cent); US-95 (29.73 per cent); MIP -95 (66.39 per cent); MIP-97 (II) (69.30 per cent); MIP-97 (IV) (70.68 per cent).

Mumbai, Feb 1: Six months after the country’s largest mutual fund opened a limited repurchase window on August 1 for the small investors of Unit Trust of India’s (UTI) flagship scheme US-64, the total redemptions as on January 31, ’02 were in the range of Rs 650 crore.

The scheme, whose net asset value (NAV) based sales and repurchases were opened on January 1, saw redemptions under special scheme at Rs 635 crore for the six month ended January 2002, according to UTI’s data on redemptions.

The total assets under the management of the scheme stood at Rs 13,863.16 crore as on December 31, 2001. The scheme has made provision of Rs 1,116.10 crore for the non-performing assets (NPAs), which is about 8.05 per cent of its net asset value.

Total value of illiquid equity shares stood at Rs 289.48 crore, representing 2.09 per cent of market value of assets under the management of US-64 scheme.

The redemptions for the five-month ended December 2001 under limited repurchase window stood close to Rs 415 crore.