UTI Dividend Yield Fund declares tax-free dividend of 7% (Re.0.70 per unit on face value of Rs.10). Pursuant to the payment of dividend, the NAV of the dividend option of the scheme would fall to the extent of payout and statutory levy if any.
The record date for the dividend is December 21, 2010.
All unitholders registered under the dividend option of UTI Dividend Yield Fund as on December 21, 2010 will be eligible for this dividend. Also investors who join the dividend option of the scheme on or before the record date will be eligible for the dividend.
The NAV per unit as on December 15, 2010 was Rs. 15.94 under the dividend option.
The scheme has outperformed its benchmark index as per table given below:
| Fund Performance as on December 10, 2010 Performance Comparison with Benchmark Index | ||
| Compounded Annualised Returns | NAV | BSE 100 |
| One year | 22.93% | 12.05% |
| Three years | 9.37% | -1.91% |
| Five Years | 21.44% | 16.33% |
| Since Inception | 23.74% | 20.37% |
| 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-Dividend Yield Fund is an open-ended equity oriented scheme. The investment objective of the scheme is to provide medium to long-term capital gains and / or dividend distribution by investing predominantly in equity and equity related instruments, which offer high dividend yield. Dividend Yield is considered as high if it is greater than the dividend yield of the Nifty last released/ published by NSE.
Ms Swati Kulkarni is the fund manager of the scheme.
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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.67617.72 crore and investor accounts of around1 crore under its 80 domestic schemes (as of September 30, 2010).