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UTI redemptions at Rs 22.65 bn in June: AMFI data

Unit Trust of India saw redemptions of Rs 22.65 billion in June, including repurchases of Rs 20.34 billion pertaining to the now suspended US-64 scheme for May, according to Association of Mutual Funds in India data.

Sales, for UTI, under all schemes was Rs 18.58 billion with no new scheme introduced, AMFI said in Bombay on Friday and added that repurchases of US-64 in the second month of the current fiscal were reported in June.

UTI, on July 2, decided to suspend the sales and repurchases in US-64 scheme for six months.

On cumulative terms (April to June) the redemptions for UTI stood at Rs 53.14 billion while sales were Rs 26.84 billion, it added.

The mutual fund industry, which includes MFs sponsored by institutions and private sector, saw sales and redemptions of Rs 131.40 billion (Rs 55.47 bn in corresponding period of last year) and Rs 94.64 billion (Rs 42.68 bn) respectively in June, AMFI said.

The total assets under management as on June 30, 2001, was Rs 979.53 billion (Rs 1,077 billion), it added.

In the private sector, Indian MF players witnessed redemptions at Rs 20.52 billion while the sales were pegged at Rs 29.59 billion during the reporting month, AMFI said.

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