UTI- Wealth Builder Fund-Series II declares tax-free dividend of 8% (Rs.0.80 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 May 27, 2009.
In April 2009 the scheme had declared its maiden dividend of 8% (Rs.0.80 per unit on face value of Rs.10/-). Within a span of one month the scheme has declared its second dividend.
All unitholders registered under the dividend option of UTI- Wealth Builder Fund-Series II as on May 27, 2009 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 May 20, 2009 was Rs.13.30 under the dividend option.
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UTI Wealth Builder Fund-Series II is an open ended equity oriented scheme. The investment objective of the Fund is to achieve long-term capital appreciation by investing predominantly in a diversified portfolio of equity and equity related instruments alongwith investments in Gold ETFs and Debt and Money Market instruments.
Mr Harsha Upadhyaya, Fund Manager of the scheme said, “UTI Wealth Builder Fund-Series II is an unique scheme which combines the benefits of both equity and gold. The scheme aims to build and maintain a diversified portfolio of equity stocks that has potential to appreciate in the long run alongwith exposure to Gold ETFs. The scheme takes exposure across capitalisations with a tilt towards large caps and also uses derivatives to hedge and manage volatility. The investment in Gold ETFs diversifies portfolio risk and reduces overall volatility of returns.”
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).
