UTI- Pharma & Healthcare Fund declares tax-free dividend of 15% (Rs.1.50 per unit on face value of Rs.10/-). 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.
The record date for the dividend is August 26, 2008.
All unitholders registered under the dividend option of UTI- Pharma & Healthcare Fund as on August 26, 2008 will be eligible for this dividend. Also investors who join the dividend option of the scheme on or before the record date will be eligible for the dividend.
The NAV per unit as on August 19, 2008 was Rs.20.94 under the dividend option.
UTI-Pharma & Healthcare Fund was launched in May 1999 as an open-ended equity scheme, Investment objective of the scheme is capital appreciation through investments in equities and equity related instruments of companies engaged in manufacture of Pharmaceuticals- bulk drugs, formulations & OTC drugs, medical equipment and accessories, personal healthcare products and also companies owning/ managing hospitals etc.
Mr Lalit Nambiar, fund manager of the scheme said,” The pharmaceutical sector combines sustainable growth with appealing valuations, a rare combination in today’s uncertain markets.”
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.46119.90 crore and investor accounts of over 9.50 million under its 94 domestic schemes (as of July 31,2008).
