UTI MF declares dividend of 25 percent under its UTI MNC Fund
UTI Mutual Fund has declared a dividend of 25% or Rs.2.50 per unit on face value of Rs.10 under its UTI MNC Fund. The record date for the dividend is November 25, 2014.
All unit holders registered under the dividend option-existing plan and dividend option-direct plan of UTI MNC Fund as on November 25, 2014 will be eligible for this dividend. Also investors who join any of the dividend options of the scheme on or before the cut off time of the record date will be eligible for the dividend.
The NAV of UTI MNC Fund on November 19, 2014 under dividend option-existing plan was Rs.80.4839 and under dividend option-direct plan was Rs.81.5432 said the press release.
UTI MNC Fund was launched in April 1998 as an open-ended equity scheme. The scheme shall invest predominantly in stocks of Multinational Corporations (MNC) and other liquid stocks.
Swati Kulkarni, Fund manager said, “UTI MNC Fund predominantly invests in companies which are forming a part of CNX MNC index and/ or where more than 25% of the holding is by the MNC parent and/ or where Foreign Institutional Investor (FII) / Foreign Direct Investor (FDI) and MNC parent combined holding is more than 50%. The Fund provides investors a diversification opportunity due to its differentiated sector and stock weights.”
