UTI Mutual Fund has decided to merge UTI Growing Corpus Growing Income Plan (UTI GCGIP) with UTI US-95 with effect from July 1, 2004. An option to repurchase units at NAV (without any exit load) will be available to unitholders of both schemes from June 1, 2004 to June 30, 2004.
UTI GCGIP was launched as a 10-year close-end debt-oriented hybrid scheme in April 1994. Post maturity in June 2004, the scheme will be made open-ended and would be merged with US-95. UTI GCGIP currently has total assets of Rs 160.64 crore.
UTI US-95 is the second largest open-end equity-oriented hybrid fund with total assets of Rs 256.48 crore as on April 30, 2004.
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