UTI plans to launch a dedicated gilt fund which would primarily target provident, pension and gratuity funds. Also on cards is a balanced fund which would offer safety of capital with scope for appreciation by investing aggressively in turnaround stocks, merger and acquisition candidates among other such investment options.

UTI plans to introduce new variations for its investors like `Systemetic Investment Plan' under the UTI Bond Fund, so as to tap the non-tax paying investor under the monthly income plans. UTI plans to introduce a cheque writing facility in its MMMF. The money market fund collected Rs 850 crore as fresh subscriptions.

The Trust plans to shift real estate investments under US-64 to DRF in due course of time. The Trust has also discontinued investment in the form of termloans and deposits as asked by Sebi. Besides, US-64 needs to shift to NAV-based pricing which will make it fully compliant to both Sebi regulations and UTI Act.

The contribution of real estate to the kitty of US-64 has moved up by Rs 525 crore to Rs 900 crore. According to UTI chairman, P S Subramanyam, the size of investments in real estate have moved up after all the properties were revalued. Based on the US-64 size of Rs 16,100 crore, real estate accounts for 5.6 per cent of the total corpus.

The size of development reserve fund, which is also part of US-64, has gone up to Rs 900 crore from previous year's level of Rs 649 crore. This marks a over 38 per cent rise in the fund. Returns in most of the assured plans, including monthly income plans and institutional funds, is guaranteed by the DRF. According to Subramanyam, DRF will now have a full-time fund manager to manage investments.

During the recently concluded umbrella fund, UTI mopped up Rs 73 crore while offshore funds garnered Rs 87 crore. UTIcurrently has five offshore funds, including an IT Fund and a public sector fund. The rupee NAV of the IT Fund has appreciated by a whopping 117.7 per cent although it has still underperformed the CNX IT Index, which gained 118.8 per cent. The public sector fund gained 13.79 per cent in NAV against a depreciation of 23.05 per cent in Crisil PSE Index.