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UTI, NSDL in tie-up for demat of three schemes

Unit Trust of India has finalised arrangements with the National Securities Depository Limited for offering the facility of dematerialisation of units issued under Mastershare '86, Mastergrowth '93 and Grandmaster '93.

These three schemes have a combined corpus of about Rs 13.78 billion and the introduction of the dematerialisation facility is expected to enhance liquidity by offering easy transferability of units traded in the secondary market or bought through off-market deals.

With effect from December 21, 1998, investors are now eligible to approach their depository participants for dematerialising units of the above schemes, a UTI statement said.

M/s M N Dastur and Company Limited, who are the R&T agents for Mastershare'86, mastergrowth '93 and Grandmaster '93 will render all the registrar services for activities relating to dematerialisation.

Prospective investments under Grandmaster '93, which is open-ended, may also be held directly as dematerialised units, the release added.

UNI

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