The reserves and surplus in the scheme are to the tune of Rs 104 crore with a unit capital of Rs 409 crore, as on September 30, 1999. The scheme will be under book closure from December 25.

The scheme is currently available at a discount of 12.32 per cent to the current NAV of Rs 21.10. During the quarter ended September 1999, the NAV of the scheme has moved up to Rs 20.39 from Rs 16.96 a rise of 20 per cent compared to a rise in the BSE-30 Sensex of 15.06 per cent. The sectoral portfolio composition of the scheme comprises 19.5 per cent in FMCG, 18.3 per cent in pharmaceuticals, 10.4 per cent in diversified and 6.7 per cent in the automobile sector.

The units of the scheme issued in 1993 and remaining outstanding are listed on major stock exchanges. With the concurrence of Sebi, UTI proposes to delist the scheme when the scheme is made open-ended. The scheme will be called the Mastergrowth Unit Scheme 1993 subsequent to it going open-ended and will get delisted from the stock exchanges.

The minimum investment in the scheme is at Rs 5,000 with the face value of the units at Rs 10. According to the Trust, the sale will be at NAV with the historic or prospective sale price to be announced at a later date.According to the offer document submitted to Sebi, the trust has achieved organisation wide Year 2000 (Y2K) readiness with regard to its mission critical applications. Also according to the document, the hardware, system software and application software at all its offices are also Y2K-ready as well as the registrar and transfer agents servicing investors across various schemes attained Y2K readiness.

The top equity holdings of the company are HLL at 14.5 per cent weight of the portfolio, Hindalco at 4.82 per cent of the portfolio, Reliance Industries at 4.81 per cent of the portfolio, Bhel at 3.52 per cent of the portfolio, NIIT at 2.31 per cent of the portfolio, BPCL at 3.42 per cent of the portfolio among other holdings.

The portfolio has more weightage towards defensive stocks than growth stocks like the HLL, Hindalco, Reliance Industries, HPCL, MTNL, ITC, Bhel, BPCL, and IPCL among others.