|
| UTI MF declares dividend under UTI Balanced Fund |
| Announcement / Markets Apr 15, 2009, 19:35 IST |
|
UTI Balanced Fund has declared a dividend resulting in a gross pay out of 8.5% (Rs.0.85 per unit on a face value of Rs.10/-). This pay out includes the applicable income distribution tax.
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.
All unitholders registered under the dividend option of UTI Balanced Fund on the record date i.e. April 16, 2009 will be eligible to receive this dividend.
UTI Balanced Fund has been a consistent performer with 14 years of uninterrupted track record of dividend distribution.
The NAV per unit as on April 9, 2009 was Rs.15.13 under the dividend option.
Considering the income distribution tax, the pay out translates into a dividend of 7.446% (Rs.0.7446 per unit on a face value of Rs.10/-) for individual and HUF investors and of 6.93% (Rs.0.6930 per unit on a face value of Rs.10/-) for other categories of investors.
UTI Balanced Fund was launched in 1995 as an open-end balanced scheme. The scheme aims to invest in a portfolio of equity/equity related securities and fixed income securities (debt and money market securities) with a view to generate regular income together with capital appreciation.
Mr Amandeep S Chopra the fund manager of the scheme said "The asset allocation in the scheme is designed keeping in mind the necessity of providing consistent returns and maintaining a balance between debt and equity."
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. 48754.17 crore and investor accounts of over 9.65 million under its 94 domestic schemes (as of March 31, 2009).
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
Content Guide
