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Home > Business > Business Headline > Report

UTI lost Rs 9000 crore between Apr 02-Feb 2003

BS Markets Bureau in Mumbai | March 21, 2003 12:22 IST

The erstwhile Unit Trust of India (including both UTI-I and UTI Mutual Fund) has lost more than Rs 9,000 crore (Rs 90 billion) in unit capital between April 2002 and February 2003, according to figures released by the Securities and Exchange Board of India.

Data for February, however, does not include figures for UTI-I, which is now being administered separately.

During the first 11 months of the current fiscal, the Trust mobilised Rs 6,276 crore but lost Rs 15,404 crore in redemptions.

In contrast, private sector funds which now command a market share of more than 53 per cent, mobilised Rs 2,51,736 crore (Rs 2,517.36 billion).

Outflows in this segment were to the tune of Rs 2,34,678 crore (Rs 2,346.78 billion), leaving it with a net inflow of Rs 17,059 crore (Rs 170.59 billion). Public sector funds have improved their position marginally: with inflows of Rs 21,138 crore (Rs 211.38 billion) and outflows of Rs 18,900 crore (Rs 189 billion), the segment was left with an inflow of Rs 2,238 crore (Rs 22.38 billion).

The entire industry reported mobilisations of Rs 2,99,150 crore (Rs 2,991.50 billion), outflows of Rs 2,68,982 crore (Rs 2,689.82 billion), thereby  leaving it with a net surplus of Rs 10,168 crore. At the end of February, 2003 the industry was left with assets of Rs 1,17,025 crore (Rs 1,170.25 billion).

In terms of the categories of funds, liquid schemes had Rs 1,69,279 crore (Rs 1,692.79 billion) coming in while Rs 1,62,227 crore (Rs 1,622.27 billion) flowed out, leaving the segment with a net inflow of Rs 7,051 crore (Rs 70.51 billion). At the end of the month, assets under the management of liquid schemes stood at Rs 15,880 crore (Rs 158.8 billion).

Debt or income schemes (excluding assured returns schemes) saw mobilisations to the tune of slightly more than Rs one lakh crore while redemptions amounted to Rs 88,407 crore (Rs 884.07 billion).

The assets under the management of debt schemes as of February 28, 2003 stood at Rs 55,309 crore (Rs 553.09 billion).

Equity schemes have been seeing inflows of late, though the figures do not reflect this. During the first eleven months of the current fiscal the net inflow into this segment has been to the tune of slightly more than Rs 23 crore (Rs 230 million).

Industry sources said that most of the inflows had come in during the last two or three months. Inflows have been to the tune Rs 4,046 crore (Rs 40.46 billion) so far this year in equity schemes, while outflows amounted to Rs 4,023 crore (Rs 40.23 billion).

Assets under the management of equity schemes were of the order of Rs 15,700-odd crore at the end of last month.

Industry sources pointed out that inflows were happening more during the current month.

However, the industry has stagnated at the Rs 1 lakh-odd crore for quite some time now  and though inflows are taking place, outflows are also keeping pace.

Most of the inflows are still taking place in the liquid schemes where redemptions are equally prompt and large.

Unless the balance shifts in favor of the debt schemes and the equity schemes, the assets managed by the industry is expected to remain at the same level.

The statistics

  • Private sector funds which command a market share of more than 53 per cent, mobilised Rs 2,51,736 crore.
  • Public sector funds registered inflows of Rs 21,138 crore and outflows of Rs 18,900 crore (Rs 189 billion).
  • The entire industry reported net surplus of Rs 10,168 crore (Rs 101.68 billion).

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