The Unit Trust of India (UTI) has sold equity worth Rs 2,000 crore from the portfolio of its flagship US-64 scheme in the last eight months of its financial year. UTI follows a July-June accounting year.
UTI executive director D S R Murthy told Business Standard that the fund managers had been using the volatility in the markets to book profits and to exit.
The bulk of the equity sales was accounted for by big-ticket sales, Murthy pointed out. In other words, the mutual fund has been selling from its substantial holdings in the stocks of various companies. A minuscule portion was due to the UTI exiting
