UTI Mutual Fund has declared dividend under its two open ended schemes called UTI Charitable and Religious Trusts and Registered Societies (UTI-CRTS) and UTI Balance Fund. The record date for both the funds is June 23, 2014.
Pursuant to the payment of dividend, the NAV of the dividend option-existing plan and dividend option-direct plan of the scheme would fall to the extent of payout.
UTI MF has declared a dividend of 4.85% (Rs.4.85 per unit on a face value of Rs.100) for the UTI-CRTS investors and of 15% (Rs. 1.50 per unit on face value of Rs.10) under UTI Balance Fund.
While the NAV of UTI CRTS on June 17, 2014 under dividend option-existing plan was Rs.149.6828 and under dividend option-direct plan was Rs.150.2778, the NAV of UTI Balanced Fund on June 17, 2014 under dividend option-existing plan was Rs.28.8488 and under dividend option-direct plan was Rs.28.9664.
UTI-CRTS aims to cater to the investment needs of Charitable, Religious and Educational Trusts as well as Registered Societies. The objective of the scheme is primarily to provide regular income to its investors by investing not more than 30% of the funds in equity/ equity related instruments and balance in debt and money market instruments.
Launched in 1995, UTI Balanced Fund aims to invest in a portfolio of equity/equity related securities and fixed income securities (debt and money market securities) with a view to generate regular income together with capital appreciation.
Both the funds are co-managed by Amandeep Chopra and V Srivatsa.
