UTI-Top 100 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.
The record date for the dividend is July 14, 2009.
All unitholders registered under the dividend option of UTI-Top 100 Fund as on the record date 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.
In June 2009, the scheme had declared a bonus under dividend and growth option in the ratio of 1 unit for every 1 unit held of face value of Rs.10/- each.
The NAV per unit as on July 7, 2009 was Rs.19.07 under the dividend option.
UTI Top 100 Fund is an open end equity scheme which aims to provide long term capital appreciation / dividend distribution by investing predominantly in equity and equity related instruments of top 100 stocks by market capitalization.
Mr Harsha Upadhyaya, fund manager of UTI Top 100 Fund said, “The investment strategy of primarily restricting the equity portfolio to Top 100 Indian companies is intended to reduce risks while maintaining steady growth. The scheme is designed for those investors who seek sustainable wealth creation through long term exposure to mainly large market capitalization stocks.”
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.67978.18 crore and investor accounts of over 9.70 million under its 78 domestic schemes (as of June 30, 2009).
