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US 64 To Be Split Into Two


Unit Scheme 1964 is being split into two: US 64 - Old and US 64 - New (to be named as Unit Scheme 2002). Books of US '64 will remain closed from November 2nd to November 14th (both days inclusive).

The following category of holders of US 64 will be transferred to US 2002: i. Units bought at NAV on or after January 1, 2002 ii. Accumulated Income Units allotted out of income distribution on or after July 1, 2001 (under Reinvestment Plan) iii. Units acquired in the secondary market on or after July 1, 2001 Units held under Children Gift Plan, 1970 (CGP 1970) would continue to be held under US 64.

US 2002 will be available for sale and repurchase with effect from November 15, 2002. It would be a SEBI compliant open-end balanced scheme with a portfolio comprising of Equity (25%- 55%), Debt (maximum of 75% with at least 7.5% in GOI Securities). The NAVs for both the schemes would be same at the close of business on November 14, 2002. Unit holders of US 2002 holding units, as at the beginning of business on November 15, 2002, will have an option to sell their units at NAV with no exit load till January 15, 2003. While the units bought under US 2002 from November 15, 2002, would be repurchased at NAV with applicable load.