UTI- Equity 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 scheme would fall to the extent of payout and statutory levy if any.
The record date for the dividend is April 16, 2009.
All unitholders registered under the dividend option of UTI- Equity Fund as on April 16, 2009 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 April 9, 2009 was Rs.25.71 under the dividend option.
UTI Equity Fund was launched in April 1992 as a close-ended equity scheme and was made open-ended in 1997. The scheme had attracted 59 lakh investors thus gaining an entry in the Guinness book of World Record.
UTI Equity Fund is an open-end equity scheme having over 8.75 lakh investors in its records and a fund size of over Rs.1121 crore. The scheme primarily aims at securing for its unit holders capital appreciation by investing in equity shares, convertible and non-convertible bonds/debentures of companies with good growth prospects and money market instruments. The scheme invests at least 80% of its fund in equity and equity related instruments with medium to high-risk profile and up to 20% in debt/money market instruments with low to medium risk profile.
Mr Anoop Bhaskar 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. 48754.17 crore and investor accounts of over 9.65 million under its 94 domestic schemes (as of March 31, 2009).