The schemes to be remarketed in the wake of the revival of the secondary market includes Master Index Fund, Master Growth, Grand Master, Master Plus, UGS 10,000, Private Equity Fund and five sector funds ie. GSF Brand, GSF Pharma, GSF Software, GSF Petro and GSF Service.

In an interview with The Financial Express, UTI executive director BG Daga told that the funds to be raised by UTI during the current year amounting to Rs 17,000 crore which includes the amount to be raised through the relaunch of the schemes.

UTI has already applied to Sebi for permission to make its close-ended scheme Master Growth open-ended. The green signal on this expected soon, said Daga.

Last year, the asset management committee on equity schemes had reviewed various aspects of marketing of equity schemes. It had stressed the need for making equity-oriented schemes popular again with the small investor.UGS 10,000, another equity scheme targeting investment primarily in high growth MNC stocks, had allowed fresh subscription for a week beginning the first monday of every month since January this year and had mobilised Rs 121 crore during the year. The scheme had shown over 40 per cent appreciation within one year.

UTI had launched an open-ended umbrella fund UTI-Growth Sector Fund (GSF) this May, offering five sector funds under single application viz., Brand value, Pharma and Healthcare, Software, Petro and services sector funds with the facility to switch over from one or more sector fund(s) to another or vice-versa at NAV.

Sector funds are perceived as funds with prospects of high growth and at the same time, these funds provide the investor risk diversification by way of investment in several stocks of the same sector in a cost-effective manner.Sales under UTI Growth Sector Fund (UTI-GSF) under its various options had gone up to Rs 54 crore by June 30, 1999.

Last year (1998-99), most of the UTI equity schemes had outperformed the Sensex and Natex since inception. Out of 22 schemes, 21 had outperformed Natex while 17 had outperformed the Sensex.

During last year, returns from the 22 equity schemes ranged between 60 per cent to 11 per cent. Schemes like Index Equity Fund have outperformed the Natex by over 34 per cent. Master Value Unit Plan which invests in B1 and B2 stocks, UGS 10,000, an MNC fund and Primary Equity Fund had outperformed the Natex by over 13 per cent. Master Index Fund which tracks the Sensex had been able to achieve a low tracking error, but may soon be reverted with the high growth in Sensex during last few weeks.

Mastershare Plus 1991, a close-ended growth scheme that was made open-ended with effect from October 1, 1998 had recorded fresh sales of Rs 121 crore. Master Index Fund (1 Jun 98/oe), Master Growth (18 Jan 93/ upto April 2000 ce), Grand Master (29 Apr 93/oe), Master Plus (09 Dec 91/oe), UGS 10000 (28 Apr 98/oe), Primary Equity Fund (04 April 95/oe).