UTI- Wealth Builder 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 3rd June, 2010.
All unitholders registered under the dividend option of UTI- Wealth Builder Fund as on June 3, 2010 will be eligible for this dividend.
The NAV per unit as on May 27, 2010 was Rs. 13.9100 under the dividend option.
UTI-Wealth Builder Fund is a close-ended equity scheme with a maturity period of 5 years with automatic conversion into an open-ended scheme upon maturity of the scheme.
The objective of the scheme is to achieve long term capital appreciation by investing predominantly in a diversified portfolio of equity and equity related instruments. The scheme invests in equity and equity related instruments to the extent of 65 -100% and 0-35% in debt and money market instruments
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Mr Harsha Upadhyaya, Fund Manager of UTI Wealth Builder Fund said, “The scheme aims to build and maintain a diversified portfolio of equity stocks that have the potential to appreciate in the long term. The scheme also utilises derivatives to hedge the portfolio.”
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.79456.70 crore and investor accounts of 1 crore under its 73 domestic schemes (as of April 30, 2010).
Registered Office: UTI Tower, ‘Gn’ Block, Bandra - Kurla Complex, Bandra (E), Mumbai - 400 051. Statutory Details: UTI Mutual Fund has been set up as a trust under the Indian Trust Act, 1882. Sponsors: The State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India. ( Liability of sponsors limited to Rs. 10,000/-) Trustee: UTI Trustee Co. (P) Ltd. (Incorporated under the Companies Act, 1956) Investment Manager: UTI Asset Management Company Ltd. (Incorporated under the Companies Act, 1956). Risk Factors: All investments in Mutual Funds and securities are subject to market risks and the NAV of funds may go up or down depending on the factors and forces affecting the securities markets. There is no assurance that the Fund’s objectives will be achieved. Past performance of the Sponsor / Mutual Fund / Scheme(s) / AMC is not necessarily an indicative of future results. UTI Wealth Builder Fund is only the name of the fund/scheme/plan and does not in any manner indicate the quality of the fund/scheme, its future prospects or returns. There may be instances where no Income Distribution could be made. Realisation of all assurances and promises made, if any are subject to the laws of the land as they exist at any relevant point of time. The scheme is subject to risks relating to Credit, Interest rates, Liquidity, Securities Lending, Investment in Overseas markets, Trading in Equity and Debt derivatives (the specific risk could be Credit, Market, Illiquidity, Judgemental Error, Interest Rate Swaps and Forward Rate Agreements). ). For information on general services offered, Entry/Exit load etc please read the Scheme Information Document carefully before investing