UTI Master Equity Plan Unit Scheme declares tax-free dividend of 15% (Rs1.50 per unit on face value of Rs.10/-). Pursuant to the payment of dividend, the NAV of the scheme would fall to the extent of payout and statutory levy if any.
The record date for the dividend is March 3, 2010.
The NAV per unit as on February 25, 2010 was Rs. 44.04.
The scheme has declared dividends at regular intervals since its launch in 2003.
UTI-MEPUS came into existence in March 2003 as a closed-ended equity oriented scheme as a consequence of merger of 5 MEP schemes viz. MEP- 93, MEP- 94,MEP-95, MEP-96 and MEP-97. The scheme primarily aims at securing for the members capital appreciation by investing the funds of the scheme in equity shares and convertible/non-convertible bonds/debentures/ money market instruments.
UTI-MEPUS is positioned to invest in leading companies across sectors, with an aim to provide superior risk adjusted return with relatively lesser volatility. The scheme invests with a long term perspective, in companies, that are believed to have growth potential.
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The Fund Manager of the scheme is Mr. Sanjay Dongre.
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.74509.87 crore and investor accounts of 1 crore under its 73 domestic schemes (as of January 31, 2010).