UTI Mastershare Unit Scheme Declares its 28th Consecutive Dividend

UTI Mastershare Unit Scheme declares tax-free dividend of 27.5% (Re.2.75  per 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.

The record date for the dividend is November 5, 2014. 

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. Also investors who join the dividend option -existing plan and dividend option-direct plan of the scheme on or before the cut off time of the record date will be eligible for the dividend.

The NAV of UTI Mastershare Unit Scheme on October 30, 2014 under dividend option-existing plan was Rs.34.6895 and under dividend option-direct plan was Rs.34.9516.         . 

UTI Mastershare Unit Scheme is the first diversified equity mutual fund scheme of the country. The scheme has been in existence for the past 28 years and has more than 5 lakh investors.

UTI Mastershare Unit Scheme has a track record of consistent dividend distribution for the last 28 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).

UTI Mastershare Unit Scheme is a predominantly large-cap focused fund.  The scheme’s top holding consist of companies like HDFC Bank, TCS, Infosys, Reliance Industries, ICICI Bank, Axis Bank BPCL, ITC, Sun Pharma and L&T which account for 44% of the portfolio (as on 30.9.2014). Scheme has a well disciplined investment criterion in sector/stock allocation and number of stocks.

Ms Swati Kulkarni, fund manager of the scheme said, “The scheme 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. The scheme has generated moderate and steady returns in the past and it aims for consistency of above average returns.”

UTI Mastershare Unit Scheme is an open-ended equity-oriented scheme with quarterly average assets under management of Rs.2778 core (as on 30.9.2014).  The scheme aims at securing for the unitholders capital appreciation by investing the funds of the scheme in equity shares, equity-related instruments and fully convertible bonds/ debentures of companies. Investment may also be made in issues of partly convertible debentures/bonds including those issued on rights basis subject to the condition that, as far as possible, the non-convertible portion of the debentures/bonds so acquired or subscribed shall be disinvested within a period of twelve months from the date of acquisition

About UTI Mutual Fund:

UTI Mutual Fund is a SEBI registered mutual fund whose Sponsors are State Bank of India, Punjab National Bank, Bank of  Baroda and Life Insurance Corporation of India.

UTI Mutual Fund is one of the largest mutual funds in India with investor accounts of 9.58 million under its 128 domestic schemes / plans as on September 30, 2014. 

Registered Office: UTI Tower, ‘Gn’ Block, Bandra - Kurla Complex, Bandra (E), Mumbai - 400 051. Phone : 022-66786666. For more information please contact the nearest UTI Financial Centre or your AMFI/NISM certified UTI Mutual Fund independent Financial Advisor (IFA) for a copy of Statement of Additional Information, Scheme Information Document and Key Information Memorandum cum Application Form. Mutual Fund Investments are subject to market risks, read all scheme related documents carefully