UTI Unit Scheme for Charitable and Religious Trusts and Registered Societies (UTI-CRTS) declares a dividend resulting in gross pay out of 2.4430% (Rs.2.4430 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 March 15, 2011.
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% (Rs.2.00 per unit on a face value of Rs.100/-) for the CRTS investors.
This is the second dividend declared by the scheme during the fiscal year 2010-11.
During this financial year the scheme had paid dividend (after payment of applicable income distribution tax) totaling to 6% i.e. Rs.6.00 per unit on face value of Rs.100/-.
The NAV per unit as on March 9, 2011 was Rs.124.9224 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 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 has assets under management (average) of Rs.65387.25 crore and investor accounts of around1 crore under its 81 domestic schemes (Quarter ended December 31, 2010).
Registered Office: UTI Tower, ‘Gn’ Block, Bandra - Kurla Complex, Bandra (E), Mumbai - 400 051. Statutory Details: UTI Mutual Fund has been set up as a trust under the Indian Trust Act, 1882. Sponsors: The State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India. ( Liability of sponsors limited to Rs. 10,000/-) Trustee: UTI Trustee Co. (P) Ltd. (Incorporated under the Companies Act, 1956) Investment Manager: UTI Asset Management Company Ltd. (Incorporated under the Companies Act, 1956). Risk Factors: All investments in Mutual Funds and securities are subject to market risks and the NAV of funds may go up or down depending on the factors and forces affecting the securities markets. There is no assurance that the Fund’s objectives will be achieved. Past performance of the Sponsor / Mutual Fund / Scheme(s) / AMC is not necessarily an indicative of future results. UTI CRTS is only the name of the fund/scheme/plan and does not in any manner indicate the quality of the fund/scheme, its future prospects or returns. There may be instances where no Income Distribution could be made. Realisation of all assurances and promises made, if any are subject to the laws of the land as they exist at any relevant point of time. The scheme is subject to risks relating to Credit, Interest rates, Liquidity, Securities Lending, Investment in Overseas markets, Trading in Equity and Debt derivatives (the specific risk could be Credit, Market, Illiquidity, Judgemental Error, Interest Rate Swaps and Forward Rate Agreements). ). For information on general services offered, Entry/Exit load etc please read the Scheme Information Document carefully before investing