UTI Mastershare Unit Scheme declared tax-free dividend of 28% (Re.2.80 a unit on face value of Rs.10) under dividend option-existing plan and dividend option ��"direct plan. 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 Mastershare Unit Scheme is a predominantly large-cap focused fund.  The record date for the dividend is Nov. 16, 2015.

Swati Kulkarni, fund manager of the scheme said, ''UTI Mastershare predominantly invests in large cap stocks with earnings growth potential which we believe are likely to outperform the benchmark on a long term basis. 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. This has helped the Fund in generating moderate steady returns in the past. We believe that this investment approach of building a diversified portfolio of large cap growth stocks helps us aim for consistency in performance.''

All unit holders registered under the dividend option-existing plan and dividend option- direct plan of UTI Mastershare Unit Scheme as on the record date will be eligible for this dividend.

The NAV of UTI Mastershare Unit Scheme on Nov. 10, 2015 under dividend option-existing plan was Rs.33.3429 and under dividend option-direct plan was Rs.33.7762.  

UTI Mastershare Unit Scheme is the first diversified equity mutual fund scheme of the country. The   scheme   has   been in existence  for  the past  29 years  and  has  more than 5 lakh investors.