UTI Contra Fund declares tax-free dividend of 10% (Rs.1.00 per unit on a 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 February 17, 2010.
All unitholders registered under the dividend option of UTI Contra Fund as on February 17, 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.
The NAV per unit as on February 11, 2010 was Rs.12.84 under the dividend option.
UTI Contra Fund is an open ended equity oriented scheme. The investment objective of the scheme is to provide long term capital appreciation/dividend distribution through investments in listed equities and equity related instruments. The scheme’s investment policies are based on insights from behavioral finance. The scheme offers an opportunity to benefit from the impact of non-rational investors’ behavior by focusing on stocks that are currently undervalued because of emotional and behavioral patterns present in the stock market.
The fund manager of UTI Contra Fund 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).
