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August 1, 2001
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Money > Business Headlines > Report August 1, 2001 |
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US-64 debt exposure inches up to 26%P Vaidyanathan Iyer The portfolio of Unit Trust of India’s flagship US-64 scheme, which opens for limited redemption tomorrow has not changed much in the last three months except for marginal increase in debt instruments and old economy scrips like Reliance Industries, Hindustan Lever and HDFC. The latest portfolio allocation of UTI as on June 30, 2001 which reveals only 75.37 per cent of its total asset base, shows that US-64 has 25.88 per cent of its net assets in debt instruments as compared to 22-23 per cent as on April 30, 2001 indicating that it had started shifting towards debt in the last quarter of its financial year. US-64 now has about 22.23 per cent of its net assets as government securities compared to 20.73 per cent in April, according to Value Research, a Delhi-based research firm. Reliance Industries accounts for 15.83 per cent of its net assets compared to 14.47 per cent three months back. The exposure towards Reliance Petroleum and HLL between April and June this year too has increased from 6.01 per cent to 6.88 per cent and 1.75 per cent to 2.07 per cent, respectively. The company’s exposure to Infosys Technologies too increased marginally from 2.15 per cent as on April-ended 2001 to 2.43 per cent as on June 30, 2001. Satyam Computers however now accounts for only 0.74 per cent of US-64’s net assets as against 0.93 per cent in April 2001. UTI board has committed itself to a net asset value based pricing mode by January 2002. With just about five months to go, the institution has to churn its portfolio significantly by getting out of dud and illiquid stocks and transferring its real estate investments to the development reserve fund so that it could make its NAV public. The mutual fund has taken to pharma stocks now with exposure to Dr Reddy’s Labs now standing at 0.69 per cent. The Hyderabad-based pharma major did not figure in the top 25 holdings of US-64 as on April 30, 2001. ITC has lost favour with the fund’s exposure now reduced at 5.74 per cent as on June 30, 2001 compared to 6.51 per cent as on April end. Powered by YOU MAY ALSO WANT TO READ:
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