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UTI ULIP 71 - SUDDEN SHARP FALL IN NAV

 
4 Reviews
User
  PRAVEENO on Apr 26, 2011
MY UTI ULIP 71 (10 YEAR) MATURED IN JAN,10. BUT, DUE TO SOME TECHHNICAL PROBLEM ON MY PART I OULD NOT REDEEM IT. AFTER THAT THE NAV STARTED TO FALL DUE TO CORRESPONDING FALL IN THE SENSEX. I AM YET TO REDEEM IT. I HAD DECIDED TO REDEEM IT IN THE PRESENT WEEK WHEN THE NAV WAS 18.81 ON 25/04/2011 BUT AM SHOCKED AND ALARMED AT THE SUDDEN FALL OF NAV TO 17.18 WITHIN TWO DAYS THOUGH THERE HAS NOT BEEN SUCH A FALL AT THE SENSEX. IT IS UNBELIEVABLE FOR ME THAT THIS SCHEME (UTI ULIP 71) COULD BE SO FRAGILE.
Complaint comments 3 Comments     Updated:
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N Apr 27, 2011 by
User
suvarnalata  
 
Dear Sir,

This has reference to your query regarding fall in NAV of UTI ULIP, lodged in the site http://www.consumercomplaints.in.

It is always our honest efforts to resolve the queries of our investors received from any source.

We are pleased to inform you that UTI Mutual Fund has declared a bonus under 3 of its scheme viz. UTI Children’s Career Balanced Plan, UTI Unit Linked Insurance Plan and UTI Retirement Benefit Pension Fund in the ratio of 1 unit for every 10 units held of face value of Rs. 10/- each. The record date for the bonus under the said schemes was April 25, 2011. Pursuant to the payment of bonus the NAVs the scheme would fall to the extent of bonus units. The is reduction in the NAV is due to declaration of bonus.

However we would like to inform you that due to declaration of bonus, there is increase in your total units. We request you to please provide Membership No./Folio no. to enable us to convey you the status of your investment as on date.

We hope the matter is clarified to you now.

We value your relationship with UTI Mutual Fund and thereby suggest you the below alternatives in order to safe guard your information and also to get any other information related to your investments in UTI.

We request you to utilise in future customer care option at our website, www.utimf.com, select the option, “Customer Care “to lodge your query/complaint regarding any of UTI Mutual Fund.

You may also contact our UTI Financial Center (UFC) closest to you. The contact details of UFCs are available on the website - www.utimf.com.

We thank you for investing in UTI Mutual Fund and assuring you best of our services at all times.

Regards

UTI Mutual Fund,
Dept of Operations
A Apr 27, 2011 by
User
PRAVEENO  
 
Thank you for your prompt clarification. As called for, I am intimating my Folio details below:-

Investor ID No.188112595

1. Folio No. 505175256231 Membership No. 200020011011054
2. Folio No. 50516748375 Membership No. 200020011011066

Kindly let me know the total amount receivable on redemption after deduction of tax, if any.
N Apr 28, 2011 by
User
suvarnalata  
 
Dear Sir,

Good Morning!

We wish to inform you that you have 4172.850 and 6268.187 units outstanding against the folio nos. 505175256231 and 50516748375, the value of these units as on 27.04.2011 is Rs. 71628.64 and 1, 07, 595.94 respectively.

We are despatching the updated Statement of Account for the said folios to your address C/o Paskar Mondol (Christan House), Nabab Road, Nuton Kalipur, P.O. Bhatjangla, Nadia, West Bengal 741102.

Regards,

Suvarna Thorat
Dept of Operations
UTI Mutual Fund

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    UTI ULIP 71 - SUDDEN SHARP FALL IN NAV