UTI Sept. redemptions at Rs. 426 cr.

MUMBAI, OCT. 13. The Unit Trust of India's redemptions were higher than its sales at Rs. 426 crores for September, according to the Association of Mutual Funds in India (AMFI).

Total sales of UTI for all the schemes stood at Rs. 231 crores in September, AMFI said in its monthly report here today.

Sales of all the mutual funds aggregated Rs.13,416 crores while redemptions were Rs. 16,017 crores, it said.

Predominantly, foreign mutual funds raised Rs. 5,177 crores, while redemptions stood higher at Rs. 6,265 crores.

AMFI said in case of the predominantly Indian players the sales were Rs. 4,910 crores, which included Rs.46 crores from three new schemes. Total redemptions were Rs. 5,860 crores.

Redemptions in the private sector mutual fund (Indian) at Rs. 2,326 crores were higher than the sales at Rs. 1,907 crores.

Bank-sponsored mutual funds saw sales and redemptions at Rs.510 crores and Rs. 461 crores respectively last month.

Sales of institutions stood at Rs. 681 crores while redemptions were Rs. 679 crores, AMFI said.

- PTI

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Section  : Business
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