UTI Equity funds lose Rs 792 crores

The carnage on the bourses has not only impacted UTI flagship, US-64. The 29 open and closed-end equity funds of Unit Trust of India have lost assets worth Rs 792 crore in the ICE avalanche, which has rocked the bourses after the budget. The cumulative tech exposure of these funds has seen a monumental fall of 41% from Rs 1953 crore on December 29, 2000 to Rs 1161 crore on March 19. For an idea of the impact of recent volatility, consider this. The UTI funds' exposure to HFCL has dropped like nine pins from Rs 285 crore in December 2000 to mere Rs 44.84 crore on March 19! The March figure is based on the assumption that there has b