Financial Daily
from THE HINDU group of publications

Monday, September 10, 2001





Mutual Funds
UTI revamp: The road to nowhere?
SOME time last year, the Unit Trust of India (UTI) announced the setting up of the Corporate Repositioning Committee, headed by the noted chartered accountant, Mr Y.H. Malegam.

Time for a refreshing `SIP'
``When everything is going right, something will go wrong. When everything is going wrong, something will go right.'' That slogan, ostensibly one that was delivered straight from the heart, recently came from a very well-known figure in the Indian mutual fund industry.

SEBI opens a Pandora's box
The submission of the second interim report by the Securities and Exchange Board of India (SEBI) last week opened a can of worms. The report is replete with scandals (a repeat of what happened during April-May) as it casts a shadow of suspicion on mutual funds, talks about the the corporates-brokers nexus and outlines the general rot in the market -- enough trigger for a fresh bear charge.

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