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Number of US-64 investors up 56%

Our Correspondent in Bombay

• US-64 sales cross Rs 20 billion.
• US-64 repurchases down by nearly 27 per cent.
• Net sales increase threefold in the first quarter.
• Repurchases down by 39 per cent in the first quarter.

US-64, the flagship scheme of UTI, has been the favoured investment vehicle of a large number of investors, with the number of persons who joined the scheme in the first quarter having increased by more than 56 per cent to 155,000 (over the corresponding period in the last year).

The sales of US-64, including reinvestment of Rs 7 billion, crossed Rs 20 billion in the quarter ended September 30, 2000, a growth of 19 per cent (over the corresponding period last year).

In the month of September 2000, US-64 sales were above Rs 5 billion. The repurchases during the quarter were contained at Rs 5.32 billion, a decrease of nearly 27 per cent over the corresponding period last year.

The aggregate sales under all schemes in the first quarter were Rs 33.24 billion compared to Rs 30.40 billion in the last year. The net sales at Rs 17.24 billion, under all schemes, increased by more than 300 per cent over the last year's sales of Rs 4.21 billion (corresponding period). The net repurchases at Rs 16 billion decreased by 39 per cent from Rs 26.19 billion in the corresponding period last year.

Monthly Income Plan 2000 (Third) has mobilised more than Rs 3.35 billion as on September 30, 2000. The MIP is offering an assured tax-free return of 9.75 per cent p.a. under monthly option and 10.20 per cent p.a. under annual and cumulative option for the first year. The scheme is open for sale up to October 13, 2000 and going by the past trend, is expected to garner substantial amount in the last week.

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