The Unit Trust of India (UTI) has transferred fixed assets, including Rs 680 crore of real estate, from US-64 to its development reserve fund. The trust will soon transfer Rs 182 crore more to the reserve fund.
This is in compliance with the Securities and Exchange Board of India regulations that stipulate a mutual fund scheme cannot hold fixed assets in its portfolio. US-64 has to fulfil this commitment by December 2003.
