Net inflow of funds into US-64 in July
Mumbai: The Unit Trust of India's US-64 scheme received a tremendous boost in July 1999 when it witnessed a net inflow of funds into the scheme. This happened despite the cut in dividend rates from the previous year's 20 per cent to 13.5 per cent.

UTI is expected to announce the exact figure within a few weeks. It is, however, learnt that the figures will be lower than they were July 1998.
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Small bourses' existence at stake
Mumbai: A meeting of all the stock exchanges and the Securities and Exchange Board of India is expected to discuss the increasingly redundant nature of most of the stock exchanges in the country in the wake of online trading, automation and expansion activities of major stock exchanges.

The meeting will also discuss Y2K compliance, dematerialisation and rolling settlements.

"Small stock exchanges will have to chalk out their own survival strategies," says D.R. Mehta, chairman of Sebi. "We are ready to offer any help that they may require. But we are not a BIFR," he adds.
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SBI Mutual Fund to have its own marketing wing
Mumbai: SBI Mutual Fund is planning to engage the services of private finance companies to market its funds. The mutual fund says it is changing its strategy from an agent-based system, and that is aided by SBI branches to one handled by third party intermediaries.

SBI Mutual fund will be approaching its board seeking permission to recruit marketing staff in seven of its investor services centres.
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Demat trading poses problem for small investors
Calcutta: Dematerialised shares are creating problems for small investors. Many such investors are compelled to sell their shares at a premium because there is a time lag of about one month in completing the sale process.

The small investors are complaining that they are left with two options -- one to open a demat account and get the shares transferred to the demat form, or sell them in the open market via the odd-lot counter.

The hassles in the demat account force many small investors to exercise the second option.
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