UTI Mutual Fund today declared tax-free dividend of eight per cent on its close-ended equity scheme, UTI-Wealth Builder Fund.
The record date for the dividend has been fixed as on June 8, 2009 and all unit holders registered under the scheme will be eligible for the dividend, a press release issued here said.
The scheme has a maturity period of five years, with automatic conversion into an open-ended scheme upon maturity.
The objective of the scheme is to achieve long-term capital appreciation by investing predominantly in a diversified portfolio of equity and related instruments, the release said.
UTI MF has assets under management of Rs 63,437.87-crore and investor accounts of over 96.8-lakh under 82 domestic schemes, as on May 31.
