As an investor, Navi Mumbai-based, Pramod Thatte, 64, has seen it all. He has seen many rising and falling markets. He has even seen the days when the erstwhile Unit Trust of India (UTI) was at its peak, launching one closed-end scheme after another. In those days—he doesn’t even remember the year but says it was in 1990s—he used to work in the tiny coastal town of Chiplun, Maharashtra.
Whenever UTI used to launch a scheme, Thatte used to ring up a broker friend, as did many of his office colleagues, fill and submit the application forms. “UTI used to send us the share certificates by post. We used to get them a month after we invested,” he said. UTI eventually collapsed (in 2001), but it gave Thatte a strong footing in mutual funds.
