Debt: Floating Rate
LIQUID FUND LIQUID FUND LIQUID FUND LIQUID FUND LIQUID FUND LIQUID FUND LIQUID FUND LIQUID FUND LIQUID FUND LIQUID FUND
To generate regular income through investment in a portfolio comprising substantially of floating rate debt / Launch Date
money market instruments and fixed rate debt / money market instruments. 29th August, 2003
Portfolio as on December 31, 2005
Cholamandalam Invest & Fin. Co. Ltd. 2500.00 1.78 AA+ Fund Manager Chief Investment Officer
Name of the Instruments Mkt. Value % to NAV Rating Mr. Amandeep S. Chopra Mr. A. K. Sridhar
(Rs. lakhs) Mahindra & Mahindra Fin. Ser. Ltd. 2500.00 1.78 AA+
B.Sc. MBA (FMS-Delhi) B.Sc., A.C.A.
HDFC Ltd. 16634.98 11.85 AAA ING Vysya Bank Limited 2441.6 1.74 P1+ Mr. Sanjeev Bhasin
B.Com, Chartered Accountant
ICICI Bank Ltd. 14098.75 10.04 AAA Jammu & Kashmir Bank Ltd. 2425.76 1.73 P1+
UCO Bank 2379.83 1.69 P1+ Fund Size AA
Industrial Development Bank Of India Ltd. 12511.74 8.91 AA+
Rs. 1404.28 Crores
Allahabad Bank 11585.68 8.25 P1+ National Housing Bank 2020.78 1.44 AAA
ICICI Bank Ltd. 9862.98 7.02 AAA Rabo India Finance Pvt. Ltd. 2006.18 1.43 AAA NAV per unit as on December 31, 2005
LIC Housing Finance Ltd. 9556.45 6.81 AAA Karnataka Bank Ltd. 1946.71 1.39 A1+
Citicorp Finance India Ltd. 1518.38 1.08 AAA High/Low of NAV in the month
UTI Bank Ltd. 8617.69 6.14 AA+
High : Rs. 11.2627
Mahindra & Mahindra Fin. Ser. Ltd. 1000.00 0.71 AA+
Tata Motors Ltd. 5568.35 3.97 AAA(SO) Low : Rs. 11.2099
IDBI Bank Ltd. 975.67 0.69 P1+
Citifinancial Consumer Finance India Ltd. 4140.00 2.95 AAA
Weighted Average Maturity
HDFC Bank Limited 789.83 0.56 PR1+
Citicorp Maruti Finance Ltd. 3500.00 2.49 AAA 82 days
Industrial Development Bank Of India Ltd. 304.56 0.22 AA+
Bajaj Auto Finance Ltd. 3007.89 2.14 AA+
Citicorp Finance India Ltd. 33.75 0.02 AAA(SO)
Kotak Mahindra Bank Ltd. 3000.00 2.14 AA+
Standard Chartered Bank 6.38 0.005 AAA(SO)
GE Capital Services Ltd. 2900.00 2.07 AAA
Net Current Asset 7417.20 5.28 Minimum Investment Amount
HDFC Bank Limited 2677.4 1.91 AAA(SO)
Total 140428.54 100.00
Union Bank Of India 2500.00 1.78 AA+
All figures given are provisional and unaudited. Load Structure
Portfolio Asset Profile Entry Load : Nil
Fund Performance as on December 31, 2005
Exit Load : Nil
Compounded Annualised Growth Crisil Liquid
Returns Plan Fund Index Registrar
Last 1 yr 5.73% 4.63% M/s. Karvy Computershare Pvt. Ltd.
Since launch 5.21% N.A.
Past performance may or may not be sustained in future. No. of Unit Holding Accounts
The UTI Floating Rate Fund aims at generating regular income through investment in a portfolio comprising substantially of floating rate debt / money market
Credit Profile instrument, fixed rate debt. This Fund also offers a moderate level of defense against volatile debt markets.
Fund Manager’s Comments
The Debt markets witnessed significantly low levels of liquidity for the month with RBI having to inject liquidity in the system. Short-term rates firmed up further with
the one-year treasury bill cut-off at 6.17%. Long dated securities remained flat amid lack of supply resulting in flattening ofthe curve. Liquidity concerns kept the market
participants away, as the trading volumes remained thin. The yield on the benchmark 7.38 per cent GOI 2015 bond remained flat end to close at 7.10.
The State Bank of India redeemed India Millennium Deposits worth Rs 33,000 crore on December 29, 2005
The rupee however strengthened against the dollar and breached levels of Rs 45 to a dollar. For the week ended December 17, 2005, the inflation stood at 4.62
per cent, up from previous week's 4.50 per cent. The increase came mainly on account of higher food and mineral prices. The increase in rupee against the dollar
was on account of weak corporate demand.
Liquidity expected to improve from here on, the bond markets may recover in the coming week. However, the traders will also keep an eye on any
announcement regarding the forthcoming twin auction of government securities. Going forward we expect the market to remain stable with the upcoming
review of policy setting the tone for the rest of the quarter.
For ratings methodology of Fitch Ratings please refer page no. 12
*ICRA has assigned a credit risk rating of mfAAA (pronounced m f triple A) to UTI Floating Rate Fund - Short-term Plan. The rating indicates highest-credit-
quality rating assigned by ICRA to debt funds. The rated debt fund carries the lowest credit risk, similar to that associated with long-term debt obligations rated
16 in the highest-credit-quality category. The rating should, however, not be construed as an indication of the prospective performance of the Mutual Fund
scheme or of volatility in its returns.