UTI Mutual Fund has declared a bonus under three of its schemes - UTI-Children’s Career Balanced Plan, UTI Unit Linked Insurance Plan and UTI Retirement Benefit Pension Fund. The bonus has been declared in the ratio of 1 unit for every 10 units held of face value of Rs 10 each.
According to a media release, the record date for the bonus is April 25. Pursuant to the payment of bonus, the NAVs of the schemes would fall to the extent of bonus units allotted and statutory levy if any.
UTI Children’s Career Balanced Plan invests in equities, debentures/bonds of companies and other money market instruments The scheme has an asset allocation limit of minimum 60% in debt and maximum 40% in equities/equity related instruments.
UTI Retirement Benefit Pension Fund is a government notified open-end tax saving-cum-pension fund. Contribution made by individuals in the scheme qualify for deduction of the whole amount paid or deposited subject to a maximum of rupees one lakh under Section 80C of Income Tax Act, 1961. The scheme invests minimum 60 per cent and maximum 100% in debt and balance in equity.
UTI-ULIP is an open-end tax saving cum insurance scheme. It is the first insurance-linked mutual fund product in the country with a corpus of approximately Rs 2,367 crore. The scheme is positioned as a debt oriented balanced fund with a long term investment objective aiming to deliver capital appreciation.
