UTI Unit Scheme for Charitable and Religious Trusts and Registered Societies (UTI-CRTS) declares a dividend resulting in gross pay out of 3.679% (Rs.3.679 per unit on a face value of Rs.100/-). This pay out includes the applicable income distribution tax. The record date for the dividend is May 18, 2009.
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.
Considering the income distribution tax, the pay out translates into a dividend of 2.9993% (Rs.2.9993 per unit on a face value of Rs.100/-) for the CRTS investors.
The NAV per unit as on May 11, 2009 was Rs.107.6145 under the dividend option. .
UTI-CRTS is an open-ended income oriented scheme which caters to the investment needs of Charitable, Religious and Educational Trust as well as Registered Societies. The objective of the scheme is primarily to provide regular income to its investors by investing not more than 30% of the funds in equity/ equity related instruments and balance in debt and money market instruments with low to medium risk profile.
Mr Amandeep Chopra and Mr Deb Bhattacharya are the fund managers of the scheme.
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.54489.99 crore and investor accounts of over 9.68 million under its 85 domestic schemes (as of April 30, 2009).
