UTI Master Equity Plan Unit Scheme declares dividend of 15%

UTI Master Equity Plan Unit Scheme declares tax-free dividend of 15% (Rs1.50 per unit on face value of Rs.10/-). Pursuant to the payment of dividend, the NAV of  the scheme would fall to the extent of payout and statutory levy if any.

The record date for the dividend is April 6, 2009.

The NAV per unit as on March 31, 2009 was Rs.29.39.

The scheme has declared dividends at regular intervals since its launch in 2003.

UTI-MEPUS came into existence in March 2003 as a closed-ended equity oriented scheme as a consequence of merger of 5 MEP schemes viz. MEP- 93, MEP- 94,MEP-95, MEP-96 and MEP-97. The scheme primarily aims at securing for  the members capital appreciation by investing the funds of the scheme in equity shares and convertible/non-convertible bonds/debentures/ money market instruments.

Shri Sanjay Dongre the Fund Manager of the scheme said, “UTI-MEPUS is positioned to invest in leading companies across sectors, with an aim to provide superior risk adjusted return with relatively lesser volatility. The scheme invests with a long term perspective, in companies, that are believed to have growth potential."

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.49225 crore and investor accounts of over 9.64 million under its 96 domestic schemes (as of February 28, 2009).