UTI has declared dividend of 22.5% or Rs 2.25 per unit on face value under its open ended UTI Mastershare Unit Scheme. The record date for the dividend is October 29, 2013.
UTI Mastershare Unit Scheme is the first diversified equity mutual fund scheme of the country. The scheme has been in existence for the past 27 years and has more than 5.48 lakh investors. The NAV of UTI Mastershare Unit Scheme as on October 23, 2013 under dividend option-existing plan was Rs.27.1434 and under dividend option-direct plan was Rs.27.2361.
Swati Kulkarni, fund manager of the scheme said, “UTI Mastershare is predominantly a large-cap focused fund. It is a growth seeker and looks for opportunities that have potential to beat the market on a long term investment perceptive. One of the key characteristics of the scheme is that it maintains a well-diversified portfolio and avoids sector as well as stock concentration at all points of time.”
“UTI Mastershare Unit Scheme follows a disciplined approach to investments and has maintained a stream of annual dividends by booking profits regularly. UTI Mastershare Unit Scheme continues to be a preferable choice for those investors who prefer regular dividend with capital appreciation.” she added
UTI Mastershare Unit Scheme has a corpus of Rs.2162 core as on 30 September 2013. The scheme aims to provide capital appreciation and income distribution by investing in a mixed portfolio of equity and debt instruments.
