UTI: India's endangered giant

Article Abstract:

The Unit Trust of India is a government-linked investment company managing 60% of the country's mutual funds, yet the unit price of its largest fund is higher than the actual net asset value per share. Recommendations to fix UTI's problems are not being followed, and several executives are being investigated for corruption.

India, Editorial, Unit Trust of India

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Asian rallies may be shaky

Article Abstract:

Fund managers are growing worried that the rising trend in Asian stock markets could quickly reverse. Though investors are not selling, most of them are opting for the most liquid blue-chip stocks to be able to retreat quickly once the markets start to falter. Their worries are due to some economic and political instabilities that are still plaguing some Asian nations. Another is the low cash holdings in several Asian funds.

Securities and Commodity Exchanges, Security and commodity exchanges, Securities Exchanges, Asia, Stock-exchange, Stock exchanges, Exchanges, Stock funds

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Gitic creditor list narrows: rejected claims valued at $471.1 million

Article Abstract:

The committee assigned to manage the liquidation of Guangdong International Trust and Investment Corp has rejected 65 creditor claims as of Sep 24, 1999, involving a total of at $471.1 million. Only 91 of the 569 registered claims have been considered by the committee as eligible claims. Another 145 claims are under investigation. The company was declare bankrupt in Jan 1999 and has defaulted on about $4.7 billion of debt in 1998.

China, Management, Liquidation, Guangdong International Trust and Investment Corp.

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