Wednesday, October 21, 1998
UTI Bond Fund invests heavily in AAA short-term debt
At a time when income funds are keeping money in short-term securities in the absence of both high yield and good quality paper, UTI Bond Fund has invested up to 57% of its corpus in triple A rated short-term corporate debt.
Selling stampede slams Sensex down 89 points
Heavy selling by local operators saw the Sensex shed a hefty 89 points on Tuesday. Interestingly, foreign institutional investors (FIIs) and domestic institutions were net buyers in the final analysis even though they sold heavily on a day marked by low volumes. According to figures collated by NSE, FIIs were net buyers at Rs 8.86 crore with domestic institutions at Rs 6.54 crore.
SEC chief sees further hedge fund debacles
The man in charge of policing US markets said he believed that the rescue of Long-Term Capital Management, a group that had leveraged an amount about the size of China's gross domestic product, would not be the last.
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