Lok Sabha
Unstarred Question No.
4179
To be answered on Friday,
the 18th August, 2000
Net Asset Value of Uti
Question
4179. Shri Kirit Somaiya
Will the Minister of Finance
be pleased to state :
- Whether the Net Asset Value of
Unit Trust of India Unit 64 have gone down during
the last few years;
- If so, the Nav thereof, as on
30th June 2000 from 1996;
- Whether proper financial provision
to convert all these trains and other ancillary
project works have been made;
- The reasons for decline in the
NAV; and
- The steps taken by the Government
to raise the NAV of Unit 64 of UTI?
Answer
Minister of State in the
Ministry of Finance ( Shri Balasaheb
Vikhe Patil )
- The Unit Scheme 1964 (US-64)
of the Unit Trust of India (UTI) is not a NAV
driven scheme. Sale and repurchase prices of US-64
are announced generally once at the beginning
of each month. The sale and repurchase price as
on August 2000, is Rs. 13.65 and Rs. 13.35 respectively.
UTI has now started publishing equity portfolio
details of US-64 on a quarterly basis.
- The Deepak Parekh Committee, appointed
by UTI in October 1998 to undertake a comprehensive
review of the functioning of US-64, recommended
inter alia, that US-64 should become NAV driven
within theree years. UTI is working in this direction.
Further, the portfolio of the r_____ has been
restructured to increase the weights of growth
equity stocks.
