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Saturday, January 2, 1999
UTI fund to get forex cover
PRESS TRUST OF INDIA
NEW DELHI, JAN 1: Finance Minister Yashwant Sinha today hinted that foreign exchange risk cover would be provided to the proposed Millenium fund of the Unit Trust of India (UTI). "We are working out the modalities for providing risk cover (foreign exchange) to the fund," Sinha told reporters after a meeting with Nobel laureate Amartya Sen here.UTI chairman P S Subramanyam had last month said that the country's largest mutual fund company was confident of mopping up about 500 million dollars from overseas market through the millenium fund within the fiscal. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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