UTI Mastergrowth Unit Scheme declares tax-free dividend @25%

UTI Mastergrowth Unit Scheme declares tax-free dividend of 25% (Rs.2.50 per unit on 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 April 13, 2007.

All unitholders registered under the dividend option of UTI Mastergrowth Unit Scheme as on April 13, 2007 will be eligible for this dividend. Also investors who join the dividend option of the scheme on or before the record date will be eligible for the dividend.

The NAV per unit as on April 9, 2007 was Rs.38.40 under the dividend option.

UTI Mastergrowth Unit Scheme was launched in January 1993 as an open ended equity scheme. The objective of the scheme is to provide investors an opportunity to share the growth of investment in corporate securities particularly those of the public sector undertakings. The scheme invests in equities and equity related securities issued by Public Sector Undertakings- Upto 50% and other equities, convertible and non-convertible debentures of companies and other capital and money market instruments- at least 50%. The scheme aims to provide unitholders capital appreciation and income distribution.

Ms Gautami Desai, Fund Manager of the scheme said "UTI Mastergrowth Unit Scheme mainly invests in stocks that are typically industry leaders and are riding on the fast growing Indian Economy. The scheme is fairly diversified amongst major sectors."

Disclaimer: Mutual Fund Investments are subject to market risks. Please read the offer document carefully before investing.

Source : Equity Bulls

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