UTI Mastershare Unit Scheme declared tax free dividend of 22% (Rs 2.20 an unit on a 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 Nov. 15, 2012.
All unit holders registered under the dividend option of UTI Mastershare Unit Scheme as on Nov. 15, 2012 will be eligible for this dividend. Also investors who join the dividend option of the scheme on or before the cut off time of the record date will be eligible for the dividend
UTI Mastershare Unit Scheme is the first diversified equity mutual fund scheme of the country. The scheme has been in existence for the past 26 years and has more than 6 lakh investors.
UTI Mastershare Unit Scheme has a track record of consistent dividend distribution for the last 26 years i.e. since its launch in October 1986 irrespective of market phases. In addition, the scheme has also rewarded its investors with 3 bonuses and 2 rights during this period (past performance may or may not be sustained in the future). The NAV per unit as on Nov. 08, 2012 was Rs 27.89 under the dividend option.
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 is an open-ended equity-oriented scheme having a corpus of Rs 23.63 billion. The scheme aims to provide unit holders the benefits of capital appreciation and income distribution through investment in equity/ equity-related instruments, fully convertible bonds/debenture of companies.
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