UTI Top 100 Fund declares 1:1 bonus

UTI Top 100 Fund has 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. Pursuant to the payment of bonus, the NAV of the scheme would fall to the extent of bonus units allotted and statutory levy if any.

The record date for the bonus is June 4, 2009.

NAV per unit of UTI Top 100 Fund as on May 28, 2009 was Rs.37.89 under dividend option and Rs.43.84 under the growth option. 

UTI Index Select Fund was merged into UTI Mastergrowth Unit Scheme with effect from May 20, 2009. UTI Mastergrowth Unit Scheme has been renamed UTI Top 100 Fund with revised investment objectives.

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 the scheme 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.54489.99 crore and investor accounts of over 9.68 million under its 85 domestic schemes (as of April 30, 2009).