The Unit Trust of India (UTI), the country's biggest fund manager, said on Wednesday its flagship US-64 scheme repurchased units for 120.2 million rupees at a fixed price of 10.50 rupees on January 1. In addition, it also repurchased units worth 540,000 rupees at net asset value (NAV) on Tuesday, the first day of its shift to trading at market-linked prices, an official at UTI said.
US-64, which holds a quarter of all assets under UTI's management, also made sales of 24.8 million rupees at net asset value (NAV) on January 1, he said.
UTI manages about 516.7 billion rupees ($10.7 billion), representing about 52 percent of the total assets of India's mutual fund industry.

Till July 2001, UTI had sold and repurchased US-64 units at fixed prices. It has not revealed how these prices were set.
Following a huge redemptions surge triggered by a stock market slide, UTI first completely suspended US-64 unit repurchases before allowing limited redemptions. Bureau Report