According to estimates made by UTI, the net asset value (NAV) of Unit Scheme - 64 (US-64) could be in the region of Rs 15-16.

Currently, Unit Trust of India (UTI) manages Rs 672.1 bn in assets which accounts for 69.2% of the total assets of the Indian mutual fund industry.

US-64's NAV appreciation can be attributed mainly to its large investments in software companies, which has seen the company's NAV surpass its repurchase price. Historically, US-64's repurchase price has been at a premium to its NAV. In other words, investors have always paid more for US-64 units than its intrinsic worth - the NAV.

The trend seems to have reversed with the recent surge in the US-64 NAV. This is a good opportunity for investors to buy into US-64 at current rates. However, the NAV will remain strong so long as the markets are upbeat. A downward swing the stock markets will see a corresponding decline in US-64's NAV.

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