The Unit Trust of India (UTI) is set to close the current accounting year, ending June 30, with a 476.9 per cent growth in investment in its equity-oriented schemes. The figure is likely to reach Rs 1,500 crore this year against Rs 260 crore last year.
Also, inflows into UTI's debt schemes clocked a growth of about 100 per cent to Rs 4,000 crore this year from Rs 2,000 crore.
According to UTI executive director B G Daga, "The buoyancy in the equity markets and better products helped the equity schemes to perform better than usual. However, debt schemes continue to attract higher inflows."
The monthly income plans (MIP), UTI's most successful product after US-64, alone netted about Rs 2,700 crore this year. This is excluding the MIP 2000 (second) which opened this week.
During the year, the trust launched two MIP schemes_MIP '99 (second) in May and MIP 2000. These schemes have seen inflows of up to Rs 2,700 crore.
Daga said, "For MIP 2000 (second), we have factored in the dividend tax on debt-oriented schemes. The assured return on the annual option will be 9.65 per cent, while the monthly option will fetch 9.25 per cent."
