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UTI growth sector funds open for sale and repurchase from today

The Unit Trust of India's growth sector funds dedicated to the software, pharma, petro, services and brand value industries will re-open for sale and repurchase from September 18.

Each of the funds will delcare the net asset value on a daily basis. The initial offer under the funds was made during May-June, 1999.

Sales from September 18 will be based on the NAV. Minimum investment in each fund is Rs 5,000 and in the multiples of Rs 1,000 thereafter and the investors have the facility of switching over from one fund to another or vice-versa at the NAV.

Repurchase will be at NAV for investments made in the fund during the initial offer period. For investments made after the funds for open-ended, the re-purchases will be at a discount not more than three per cent of NAV.

Meanwhile, the NAV of the software fund grew by 36.7 per cent to Rs 13.67, while for the pharma fund, it rose by 21.2 per cent to Rs 12.12.

UNI

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