Eighty-seven equity and balanced schemes spanning the private and public sectors, excluding the Unit Trust of India (UTI), reported a Rs 1,900 crore erosion in their net value, against assets of Rs 5,175 crore, at the end of March 2003.
The financial results of 87 equity and balanced schemes for the six months ended March 2003 indicate that the face value of assets of Rs 5,175 crore declined to Rs 3,275 crore on March 31, 2003.
The face value is the aggregate unit capital, and the net asset value is the current market value of investments divided by the number of outstanding units.
In balance sheet parlance, these roughly translate into unit capital on the liabilities
