US-95 has given a return of 66.98 per cent during the year. The 5-year and 3-year annualised returns are 15.03 per cent and 19.5 per cent respectively. The current size of the fund is Rs 161 crore.The Seniors Citizens Unit Scheme is designed to provide medical security system to protect individuals against hospitalization expenses especially after superannuation. An income distribution of Rs 1.15 per unit annuity/ appreciation (face value of Rs 10 per unit) has been declared this year against 12 per cent last year.

Grihalakhsmi Unit Scheme 94 has an objective of providing regular income for women. An income distribution of Rs 1.10 per unit (face value of Rs 10 per unit) has been declared this year against 12 per cent last year.

Retirement Benefit Unit Plan is a life-cycle product targeted towards the superannuating needs of individuals. An income distribution of Rs 1.15 per unit (face value of Rs 10 per unit) has been declared under this plan.Twenty-two out of the 28 equity schemes ( 2 out of 30 equity schemes are passive index funds) have outperformed the BSE Sensex in the last one-year. The range of growth registered by the schemes, which have outperformed the BSE Sensex over the last year varies from 14.68 per cent to 255 per cent. As against the BSE Sensex growth of 14.68 per cent during the year, 11 of UTI's equity schemes have registered a growth in NAV of more than 20 per cent. 20 out of 28 schemes (two schemes are passive index funds) have outperformed the BSE Sensex since inception.

As regards sectoral funds GSF-Software and GSF-Services have done well. Three funds have outperformed their respective sectoral indices (GSF Brand, Petro and UGS 10000) in the last year and since inception. In the tax planning segment, the recently launched Equity Tax Saving Plan has been outperforming the BSE Sensex since inception. The performance of Masterplus was affected on account of heavy repurchase which constrained reshuffling of the portfolios in favor of upcoming growth stocks/sectors. However this scheme has a large exposure to FMCG and pharma which did not perform well during the year but are expected to do well in the future.

During the year, the Trust had rewarded unitholders of equity schemes. In all 10 equity schemes declared income distribution: Grandmaster (10 per cent), Mastergrowth (15 per cent), UGS 10000 (20 per cent maiden), UTI GSF - Software (20 per cent maiden), UTI GSF Service (20 per cent maiden), Mastergain (15 per cent), Masterplus (12 per cent) and UTI GSF Brand Value (10 per cent maiden), Mastershare (16 per cent in September 1999 and 16 per cent in May 2000) and MEP' 99 (15 per cent). These income distributions are tax free in the hands of the investors. A bonus of 2:5 was also distributed in MEP 93.

Among the non-assured schemes, the UTI Bond Fund has given an annualised return of 12.6 per cent since inception . The current size of the fund is Rs 504 crore.Unit Linked Insurance Plan (ULIP) has earned an estimated net income of Rs 523 crore on its capital. The sale and repurchase prices for July 2000 are Rs 15.80 per unit and Rs 15.50 per unit respectively.The scheme for Charitable and Religious Trusts and Registered Societies (CRTS) had made an income distribution of 6.50 per cent for the half year ended December 31, 1999. The income distribution declared for the second half was 6.25 per cent.

This gives a total income distribution of 12.75 per cent during the year.The Trust met its commitment under all assured return schemes including MIP 94(III), which matured during the year. A number of investor friendly features have been introduced in the debt schemes. UTI Bond Fund introduced the facility of monthly withdrawal plan and roll over. Money Market Mutual Fund has been made available from more branches of UTI Bank. A single form for Bond Fund, G-sec Fund and US 95 was also introduced.