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 54489.99 crore at the end of April 2009.
UTI-Equity Tax Savings Plan (G) is an open-ended equity oriented tax-savings scheme launched in November 1999. The scheme aims at providing unit holders benefits of investments in equities and at the same time avail of tax concessions available under Section 80 C of the Income Tax Act, 1961.
The minimum investment amount is Rs.500 and in multiples of Rs.500 thereafter. The unit NAV of the scheme was Rs 28.25 as on 20 May 2009.
Portfolio: The total net assets of the scheme increased by Rs 34.77 crore to Rs 308.49 crore in April 2009.
UTI-Equity Tax Savings Plan (G) took fresh exposure to only one stock in April 2009. The scheme has purchased 50000 units (1.45%) of Tata Power Company.
The scheme exited completely from Shree Cement by selling 15219 units (0.40%) in April 2009.
Sector -wise, the scheme took no fresh exposure to any sector in April 2009.
Sector-wise, the scheme did not exit completely from any sector in April 2009.
The scheme had highest exposure to State Bank of India with 1.23 lakh units (5.10% of portfolio size) followed by Bharti Airtel with 2.05 lakh units (5.00%), Bharat Heavy Electricals with 80000 units (4.29%) and Reliance Industries with 65000 units (3.81%) among others in April 2009.
It reduced its exposure from Gujarat State Petronet by selling 2.59 lakh units to 12.40 lakh units (by 0.50%), Maruti Suzuki India to 60000 units (by 0.13%), Bharat Heavy Electricals to 80000 units (by 0.12%) and Bharat Electronics to 66221 units (by 0.09%) among others in April 2009.
Sector-wise, the scheme had highest exposure to Refineries at 6.57% (from 6.41% in March 2009), followed by Electric Equipment at 6.55% (6.27%), Banks-Public Sector at 5.10% (3.24%) and Telecommunications-Service Provider at 5.00% (4.69%) among others in April 2009.
Sector wise, the scheme had reduced exposure from Cement-North India to 0.51% (by 0.45%), Automobiles-Passenger Cars to 1.58% (by 0.13%), Oil Drilling/Allied Services to 2.70% (by 0.11%) and Electronics–Components to 2.05% (by 0.09%) among others in April 2009.
Performance: The performance of scheme is benchmarked against BSE 100. The scheme has underperformed the benchmark index over all time periods.
The scheme has posted returns of 22.61% underperforming the BSE 100 that gained 29.00% over 1 month period ended 20 May 2009. Over 3 months period, the scheme advanced by 39.64% underperforming the benchmark index that gained 61.67%. It fell 23.40% more than benchmark index that declined by 20.28% over 1 year period.
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 54489.99 crore at the end of April 2009.
UTI-Equity Tax Savings Plan (G) is an open-ended equity oriented tax-savings scheme launched in November 1999. The scheme aims at providing unit holders benefits of investments in equities and at the same time avail of tax concessions available under Section 80 C of the Income Tax Act, 1961.
The minimum investment amount is Rs.500 and in multiples of Rs.500 thereafter. The unit NAV of the scheme was Rs 28.25 as on 20 May 2009.
Portfolio: The total net assets of the scheme increased by Rs 34.77 crore to Rs 308.49 crore in April 2009.
UTI-Equity Tax Savings Plan (G) took fresh exposure to only one stock in April 2009. The scheme has purchased 50000 units (1.45%) of Tata Power Company.
The scheme exited completely from Shree Cement by selling 15219 units (0.40%) in April 2009.
Sector -wise, the scheme took no fresh exposure to any sector in April 2009.
Sector-wise, the scheme did not exit completely from any sector in April 2009.
The scheme had highest exposure to State Bank of India with 1.23 lakh units (5.10% of portfolio size) followed by Bharti Airtel with 2.05 lakh units (5.00%), Bharat Heavy Electricals with 80000 units (4.29%) and Reliance Industries with 65000 units (3.81%) among others in April 2009.
It reduced its exposure from Gujarat State Petronet by selling 2.59 lakh units to 12.40 lakh units (by 0.50%), Maruti Suzuki India to 60000 units (by 0.13%), Bharat Heavy Electricals to 80000 units (by 0.12%) and Bharat Electronics to 66221 units (by 0.09%) among others in April 2009.
Sector-wise, the scheme had highest exposure to Refineries at 6.57% (from 6.41% in March 2009), followed by Electric Equipment at 6.55% (6.27%), Banks-Public Sector at 5.10% (3.24%) and Telecommunications-Service Provider at 5.00% (4.69%) among others in April 2009.
Sector wise, the scheme had reduced exposure from Cement-North India to 0.51% (by 0.45%), Automobiles-Passenger Cars to 1.58% (by 0.13%), Oil Drilling/Allied Services to 2.70% (by 0.11%) and Electronics–Components to 2.05% (by 0.09%) among others in April 2009.
Performance: The performance of scheme is benchmarked against BSE 100. The scheme has underperformed the benchmark index over all time periods.
The scheme has posted returns of 22.61% underperforming the BSE 100 that gained 29.00% over 1 month period ended 20 May 2009. Over 3 months period, the scheme advanced by 39.64% underperforming the benchmark index that gained 61.67%. It fell 23.40% more than benchmark index that declined by 20.28% over 1 year period.
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