UTI Banking Sector Fund declares tax-free dividend of 10% (Rs.1.00 per unit on face value of Rs.10/-). Pursuant to the payment of dividend, the NAV of the dividend option of the fund would fall to the extent of payout and statutory levy if any.
The record date for the dividend is June 24, 2010.
All unitholders registered under the dividend option of UTI Banking Sector Fund as on June 24, 2010 will be eligible for this dividend. Also investors who join the dividend option of the fund on or before the record date will be eligible for the dividend.
The NAV per unit as on June 21, 2010 was Rs.22.93 under the dividend option.
The fund has consistently outperformed the benchmark CNX Bank Index as per table given below:
| Fund Performance as on June 15, 2010 Performance Comparison with Benchmark Index | ||
| Compounded Annualised Returns | NAV | CNX Bank Index |
| One year | 41.68% | 34.93% |
| Three years | 18.19% | 15.64% |
| Five years | 22.71% | 20.99% |
| Since Inception | 23.56% | 21.27% |
| Assuming that all pay outs during the period have been reinvested in units of the fund at the immediate ex-dividend NAV Past Performance may or may not be sustained in the future | ||
UTI Banking Sector Fund is an open-end equity oriented scheme. The investment objective of scheme is to provide investors the benefits of capital appreciation and income distribution by investing in stocks of companies/institutions engaged in the banking and financial services activities.
Mr Arun Khurana is the Fund Manager of UTI Banking Sector Fund.
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About UTI Mutual Fund
UTI Mutual Fund is a SEBI registered mutual fund whose Sponsors are State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India.
UTI Mutual Fund has assets under management (average) of Rs.78617.15 crore and investor accounts of 1 crore under its 74 domestic schemes (as of May 31, 2010).