UTI Master Value gets inflows of Rs 500 crore

Riding on the strong rally on the stock markets, UTI Master Value Fund saw a inflow of more than Rs 500 crore in the last 15 days. The asset size of the scheme has nearly quadrupled post dividend payout.

The fund had declared a 100 per cent dividend in December 2003. It had earlier announced dividends of 10 per cent and 30 per cent in April '03 and July '03, respectively.

A fund manager at UTI Mutual Funds adds, "High dividend payout was just a hygiene factor for this huge inflow. The consistent and excellent scheme performance has been the main driving force for this huge inflow."

Interestingly, UTI Master Value Fund is the only fund in the domestic mutual fund industry with clearly defined investment criteria for identifying the undervalued stocks.

The scheme has achieved a compounded annual growth rate of 29.33 per cent since its inception in July 1998. The fund has outperformed the benchmark indices in the last 12 months.

The net asset value of the scheme surged 127.85 per cent in the last 12 months till December 29. While the Sensex rose 72.03 per cent during this period.

"The equity market is on fire and the investors are willing to ride this strong upturn," the fund manager added.