UTI daily repurchase prices announced
The Unit Trust of India (UTI) has announced daily repurchase prices of its MEP series. The MEP series are the Equity Linked Saving Schemes (ELSS) of the UTI. Effective May 3, 1999, UTI has decided to compute the NAV of MEP 91, 92, 93, 94, 95 and 96 on a daily basis and fix the repurchase prices accordingly thereby making them more current. Faulty pricing based on historic prices of UTIs schemes was leading to a number of investors making a quick buck on the UTIs schemes.

LIC MF bond fund
The maiden open-end bond fund from LIC Mutual Fund is likely to close its initial public offering with a collection of Rs 30 crore. The initial offer of LICMF Bond Fund, which opened on March 26, will close for subscription on May 8. According to AMCofficials, collections in the fund have already touched Rs 25 crore till May 5. ``We expect some fresh investments to come in just before the fund closes and the final collection is likely to be around Rs 30 crore,'' said an official.