Background: UTI Mutual Fund is managed by UTI Assets Management Company Private Limited has come into existence with effect from 1st Feb.2003 who has been appointed by the UTI Trustee Company Pvt. Ltd. for managing the scheme of UTI Mutual and the scheme transferred from UTI Mutual Fund. Three leading public sector banks-Bank of Baroda, Punjab National Bank and life Insurance Corporation of India are sponsors of the UTI Mutual Fund. The fund house manages assets worth Rs 48754.17 crore at the end of March 2009.
UTI-Equity Tax Savings Plan (G) is an open-ended tax-planning scheme launched in November 1999. The objective of the scheme is enabling members to avail tax rebate under section 88 of the IT Act and provide them with the benefits of growth. The minimum investment amount is Rs.500 and in multiples of Rs.500 thereafter. The unit NAV of the scheme was Rs 23.42 as on 15 April 2009.
Portfolio: The total net assets of the scheme increased by Rs 36.43 crore to Rs 273.72 crore in March 2009.
UTI-Equity Tax Savings Plan (G) took fresh exposure to five stocks in March 2009. The scheme has purchased 15.00 lakh units (2.10%) of Gujarat State Petronet, 51600 units (2.02%) of Hero Honda Motors, 50000 units (1.78%) of HDFC Bank, 27824 units (0.56%) of UltraTech Cement, and 15219 units (0.40%) of Shree Cement in March 2009.
The scheme exited completely from Sun Pharmaceuticals Industries by selling 10000 units (0.43%) in March 2009.
Sector -wise, the scheme took fresh exposure to Automobiles - Motorcycles / Mopeds at 2.02% and Cement- North India at 0.96% in March 2009.
Sector-wise, the scheme did not exit completely from any sector in March 2009.
The scheme had highest exposure to Bharti Airtel with 2.05 lakh units (4.69% of portfolio size) followed by Bharat Heavy Electricals with 80000 units (4.41%), ITC with 5.50 lakh units (3.71%) and Reliance Industries with 65,000 units (3.62%) among others in March 2009.
It reduced its exposure from Bharti Airtel to 2.05 lakh units (by 0.83%), ITC to 5.50 lakh units (0.53%), Indian Oil Corporation to 90000 units (0.38%) and Bharat Heavy Electricals to 80000 units (0.32%) among others in March 2009.
Sector-wise, the scheme had highest exposure to Refineries at 6.41% (from 6.74% in February 2009), followed by Electric Equipment at 6.27% (6.84%), Telecommunications - Service Provider at 4.69% (5.52%) and Banks - Private Sector at 4.11% (1.96%) among others in March 2009.
Sector wise, the scheme had reduced exposure from Telecommunications - Service Provider to 4.69% (by 0.83%), Electric Equipment to 6.27% (by 0.57%), Cigarettes to 3.71 (by 0.53%) and Pharmaceuticals - Indian - Bulk Drugs & Formulation to 0.41% (by 0.46%) among others in March 2009.
Performance: The scheme underperformed the Sensex over all the time periods.
Over three-month period ended as on 15 April 2009, the scheme posted returns of 13.97% underperforming the Sensex that posted returns of 24.74%. Over 6 month period, the scheme's returns dropped to 0.47% underperforming the Sensex that gained 4.40%.
The returns of the scheme over one year period fell 32.23% underperforming the Sensex that plunged by 30.14%.
UTI-Equity Tax Savings Plan (G) is an open-ended tax-planning scheme launched in November 1999. The objective of the scheme is enabling members to avail tax rebate under section 88 of the IT Act and provide them with the benefits of growth. The minimum investment amount is Rs.500 and in multiples of Rs.500 thereafter. The unit NAV of the scheme was Rs 23.42 as on 15 April 2009.
Portfolio: The total net assets of the scheme increased by Rs 36.43 crore to Rs 273.72 crore in March 2009.
UTI-Equity Tax Savings Plan (G) took fresh exposure to five stocks in March 2009. The scheme has purchased 15.00 lakh units (2.10%) of Gujarat State Petronet, 51600 units (2.02%) of Hero Honda Motors, 50000 units (1.78%) of HDFC Bank, 27824 units (0.56%) of UltraTech Cement, and 15219 units (0.40%) of Shree Cement in March 2009.
The scheme exited completely from Sun Pharmaceuticals Industries by selling 10000 units (0.43%) in March 2009.
Sector -wise, the scheme took fresh exposure to Automobiles - Motorcycles / Mopeds at 2.02% and Cement- North India at 0.96% in March 2009.
Sector-wise, the scheme did not exit completely from any sector in March 2009.
The scheme had highest exposure to Bharti Airtel with 2.05 lakh units (4.69% of portfolio size) followed by Bharat Heavy Electricals with 80000 units (4.41%), ITC with 5.50 lakh units (3.71%) and Reliance Industries with 65,000 units (3.62%) among others in March 2009.
It reduced its exposure from Bharti Airtel to 2.05 lakh units (by 0.83%), ITC to 5.50 lakh units (0.53%), Indian Oil Corporation to 90000 units (0.38%) and Bharat Heavy Electricals to 80000 units (0.32%) among others in March 2009.
Sector-wise, the scheme had highest exposure to Refineries at 6.41% (from 6.74% in February 2009), followed by Electric Equipment at 6.27% (6.84%), Telecommunications - Service Provider at 4.69% (5.52%) and Banks - Private Sector at 4.11% (1.96%) among others in March 2009.
Sector wise, the scheme had reduced exposure from Telecommunications - Service Provider to 4.69% (by 0.83%), Electric Equipment to 6.27% (by 0.57%), Cigarettes to 3.71 (by 0.53%) and Pharmaceuticals - Indian - Bulk Drugs & Formulation to 0.41% (by 0.46%) among others in March 2009.
Performance: The scheme underperformed the Sensex over all the time periods.
Over three-month period ended as on 15 April 2009, the scheme posted returns of 13.97% underperforming the Sensex that posted returns of 24.74%. Over 6 month period, the scheme's returns dropped to 0.47% underperforming the Sensex that gained 4.40%.
The returns of the scheme over one year period fell 32.23% underperforming the Sensex that plunged by 30.14%.
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