UTI Mutual Fund has declared a bonus under three of its schemes — UTI-Children’s Career Balanced Plan, UTI Unit-Linked Insurance Plan and UTI Retirement Benefit Pension Fund. The bonus has been declared in the ratio of 1 unit for every 10 units held, of Rs 10 face value each.
According to a media release, the record date for the bonus is April 25. Pursuant to the payment of the bonus, the NAVs of the schemes would fall to the extent of bonus units allotted and statutory levy, if any.
UTI Children’s Career Balanced Plan invests in equities, debentures/bonds of companies and other money market instruments. The scheme has an asset allocation limit of a minimum of 60 per cent in debt and a maximum of 40 per cent in equities/equity-related instruments.
UTI Retirement Benefit Pension Fund is a government notified open-end tax-saving-cum-pension fund. Contribution made by individuals in the scheme qualify for deduction of the whole amount paid or deposited, subject to a maximum of Rs 1 lakh under Section 80C of the Income Tax Act, 1961. The scheme invests a minimum of 60 per cent and a maximum of 100 per cent in debt and the balance in equity.
UTI-ULIP is an open-end tax-saving-cum-insurance scheme. It is the first insurance-linked mutual fund product in the country with a corpus of approximately Rs 2,367 crore. The scheme is positioned as a debt-oriented balanced fund, with a long-term investment objective aiming to deliver capital appreciation.