UTI Equity Fund declares tax-free dividend of 17.50% (Rs.1.75 per unit on face value of Rs.10). Pursuant to the payment of dividend, the NAVs of the dividend option- existing plan and dividend option-direct plan of the scheme would fall to the extent of payout and statutory levy if any.
The record date for the dividend is May 27, 2014.
All unitholders registered under the dividend option-existing plan and dividend option-direct plan of UTI Equity Fund as on May 27, 2014 will be eligible for this dividend. Also investors who join any of the dividend options of the scheme on or before the cut off time of the record date will be eligible for the dividend.
The NAV of UTI Equity Fund on May 20, 2014 under dividend option-existing plan was Rs.67.6094 and under dividend option-direct plan was Rs.67.8386.
UTI Equity Fund was launched in April 1992 as a close-ended equity scheme and was made open-ended in 1997. The scheme primarily aims at securing for its unit holders capital appreciation by investing in equity shares, convertible and non-convertible bonds/debentures of companies with good growth prospects and money market instruments. The scheme invests at least 80% of its fund in equity and equity related instruments with medium to high-risk profile and up to 20% in debt/money market instruments with low to medium risk profile.
Mr Anoop Bhaskar is the Fund Manager 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 is one of the largest mutual funds in India with investor accounts of 95.31lakh (9.53 million) under its domestic schemes / plans as on April 30, 2014.