UTI Mastershare declares tax free dividend of 30% (Re.3.00 per unit on a face value of Rs.10/-) i.e. dividend of 27.5% for the year and additional dividend of 2.5% for ensuing the Silver Jubilee Year of the scheme. 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 November 15, 2010.
All unitholders registered under the dividend option of UTI Mastershare as on November 15, 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.
UTI Mastershare is the first diversified equity scheme of the country. The scheme is entering its 25th year of existence and is trusted by more than 6,58,000 investors.
UTI Mastershare has a track record of consistent dividend distribution for the last 24 years i.e. since its launch in September 1986 irrespective of market phases. In addition, the scheme has also rewarded its investors with 3 bonuses and 2 rights during this period.
The NAV per unit as on November 9, 2010 was Rs.34.93 under the dividend option.
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The detailed scheme performance is given below:
| Fund Performance as on November 4, 2010 Performance Comparison with Benchmark Index | ||
| Compounded Annualised Returns | NAV | BSE 100 |
| One year | 34.82 | 33.01 |
| Three years | 2.95 | 1.99 |
| Five Years | 19.93 | 21.1 |
| Since Inception | 17.31 | N.A. |
| 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 | ||
Swati Kulkarni, fund manager of the scheme said, “UTI Mastershare has been in existence since the last 24 years and has helped investors in taking part in the India growth story. UTI Mastershare is a large cap oriented fund that invests, in a well diversified portfolio of fundamentally strong companies and avoids sector and stock concentration.”
UTI Mastershare is an equity-oriented scheme, which aims to provide unitholders the benefits of capital appreciation and income distribution through investment in equity/ equity-related instruments, fully convertible bonds/debenture of companies.
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.67619.72 crore and investor accounts of around1 crore under its 80 domestic schemes (as of September 30, 2010).