financial_management_[www.accfile.com]

244 Financial Management
Management
Unit Trust of India is managed with an independent board of Trustees and a full time
chairman, which is appointed by the government. The trustees are nominated by the Reserve
Bank of India, Life Insurance Corporation, State Bank of India and other commercial banks.
Subsidiaries of Unit Trust of India
Unit Trust of India also established some of the associates and group of institutions apart
from their regular services:
• UTI Securities Exchange Limited –1994
• UTI Bank Ltd.–1994
• UTI Investment Advisory Service Limited–1988
• UTI Investors Services Limited–1993
• UTI Institute of Capital Market–1989
• UTI contributed to the establishments of the following institutions or organisations:
• Credit Rating Information Service of India Limited (CRISIL)
• Investment Information and Credit Rating Agency of India Limited (ICRA)
• Credit Analysis and Research Limited (CARE)
• Discount Finance House of India (DFHI)
• Stock Holding Corporation of India Limited (SHCIL)
• Over the Counter Exchange of India Limited (OTCEI)
Schemes of Unit Trust of India
Unit Trust of India introduced various scheme in the different periods. The major Unit
Trust of India schemes are under:
• Unit Scheme–64
• Monthly Income Scheme
• Children College and Career Fund Scheme
• Grihalakshmi Unit Plan
• UTI Bond Fund
• UTI Money Market Fund
• UTI Growth Sector Fund
• UTI Master Share.
Working Result of Unit Trust of India
Up to 1987 UTI enjoys the Monopoly power in the field of merchant banking activities.
In terms of cumulative indicators it accounted for 34% of the total schemes, 83% of
the resource mobilized, 82% the investment and 81% of the unit holding accounts at