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 63437.87 crore at the end of May 2009.
UTI – Contra Fund (G) is an open-ended equity oriented scheme launched in February 2006. The fund aims to provide long-term capital appreciation/dividend distribution through investments in listed equities and equity-related instruments. The Fund's investment policies are based on insights from behavioral finance.
The fund offers an opportunity to benefit from the impact of non-rational investors' behavior by focusing on stocks that are currently undervalued because of emotional and behavioral patterns present in the stock market.
The minimum investment amount is Rs.5000 and in multiples of Rs.1 thereafter. The unit NAV of the scheme was Rs 11.02 as on 16 June 2009.
Portfolio: The total net assets of the scheme increased by Rs 45.05 crore to Rs 237.86 crore in May 2009.
UTI-Contra Fund (G) took fresh exposure to two new stocks in May 2009. The scheme has purchased 85000 units (0.74%) of Jaiprakash Associates and 85000 units (0.73%) of Punj Lloyd.
The scheme exited completely from Tata Motors by selling 2.00 lakh units (2.53%), State Bank of India by selling 25000 units (1.66%) and Ranbaxy Laboratories by selling 67362 units (0.58%) in May 2009.
Sector-wise, the scheme took fresh exposure in Construction at 1.47% in May 2009.
Sector-wise, the scheme exited completely from Automobiles- LCVs/HCVs at 2.53% and Pharmaceuticals-Indian-Bulk Drugs & Formualation at 0.58% in May 2009.
The scheme had highest exposure to ICICI Bank with 2.25 lakh units (7.00% of portfolio size) followed by Punjab National Bank with 2.25 lakh units (6.35%), Union Bank of India with 7.00 lakh units (6.04%) and Bharti Airtel with 1.50 lakh units (5.18%) among others in May 2009.
It reduced its exposure from ITC to 5.00 lakh units (by 1.04%), Hindustan Unilever to 3.50 lakh units (0.86%), Tata Power Company by selling 15000 units to 1.00 lakh units (0.85%) and Bharti Airtel to 1.50 lakh units (0.68%) among others in May 2009.
Sector-wise, the scheme had highest exposure to Banks-Public Sector at 12.39% (from 13.19% in April 2009), followed by Power Generation and Supply at 11.68% (10.06%), Banks-Private Sector at 7.00% (6.21%) and Telecommunications-Service Provider at 5.18% (5.86%) among others in May 2009.
Sector-wise, the scheme had reduced exposure from Cigarettes to 3.86% (by 1.04%), Personal Care-Multinational to 3.40% (by 0.86%), Banks-Public Sector to 12.39% (by 0.80%) and Telecommunications-Service Provider to 5.18% (by 0.68%) among others in May 2009.
Performance: The performance of scheme is benchmarked against BSE 200. The scheme has underperformed the benchmark index over most of the time periods.
The scheme has posted returns of 20.70% underperforming the BSE 200 that gained 27.25% over 1 month period ended 16 June 2009.
Over 3 months period, the scheme advanced by 54.13% underperforming the benchmark index that gained 74.63%. It rose 7.41% outperformed benchmark index that declined by 3.99% 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 63437.87 crore at the end of May 2009.
UTI – Contra Fund (G) is an open-ended equity oriented scheme launched in February 2006. The fund aims to provide long-term capital appreciation/dividend distribution through investments in listed equities and equity-related instruments. The Fund's investment policies are based on insights from behavioral finance.
The fund offers an opportunity to benefit from the impact of non-rational investors' behavior by focusing on stocks that are currently undervalued because of emotional and behavioral patterns present in the stock market.
The minimum investment amount is Rs.5000 and in multiples of Rs.1 thereafter. The unit NAV of the scheme was Rs 11.02 as on 16 June 2009.
Portfolio: The total net assets of the scheme increased by Rs 45.05 crore to Rs 237.86 crore in May 2009.
UTI-Contra Fund (G) took fresh exposure to two new stocks in May 2009. The scheme has purchased 85000 units (0.74%) of Jaiprakash Associates and 85000 units (0.73%) of Punj Lloyd.
The scheme exited completely from Tata Motors by selling 2.00 lakh units (2.53%), State Bank of India by selling 25000 units (1.66%) and Ranbaxy Laboratories by selling 67362 units (0.58%) in May 2009.
Sector-wise, the scheme took fresh exposure in Construction at 1.47% in May 2009.
Sector-wise, the scheme exited completely from Automobiles- LCVs/HCVs at 2.53% and Pharmaceuticals-Indian-Bulk Drugs & Formualation at 0.58% in May 2009.
The scheme had highest exposure to ICICI Bank with 2.25 lakh units (7.00% of portfolio size) followed by Punjab National Bank with 2.25 lakh units (6.35%), Union Bank of India with 7.00 lakh units (6.04%) and Bharti Airtel with 1.50 lakh units (5.18%) among others in May 2009.
It reduced its exposure from ITC to 5.00 lakh units (by 1.04%), Hindustan Unilever to 3.50 lakh units (0.86%), Tata Power Company by selling 15000 units to 1.00 lakh units (0.85%) and Bharti Airtel to 1.50 lakh units (0.68%) among others in May 2009.
Sector-wise, the scheme had highest exposure to Banks-Public Sector at 12.39% (from 13.19% in April 2009), followed by Power Generation and Supply at 11.68% (10.06%), Banks-Private Sector at 7.00% (6.21%) and Telecommunications-Service Provider at 5.18% (5.86%) among others in May 2009.
Sector-wise, the scheme had reduced exposure from Cigarettes to 3.86% (by 1.04%), Personal Care-Multinational to 3.40% (by 0.86%), Banks-Public Sector to 12.39% (by 0.80%) and Telecommunications-Service Provider to 5.18% (by 0.68%) among others in May 2009.
Performance: The performance of scheme is benchmarked against BSE 200. The scheme has underperformed the benchmark index over most of the time periods.
The scheme has posted returns of 20.70% underperforming the BSE 200 that gained 27.25% over 1 month period ended 16 June 2009.
Over 3 months period, the scheme advanced by 54.13% underperforming the benchmark index that gained 74.63%. It rose 7.41% outperformed benchmark index that declined by 3.99% over 1 year period.
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