UTI Mastershare Unit Scheme, India’s first equity oriented fund declares tax-free dividend of 30% (Re.3.00 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 8, 2016.
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 November 2, 2016 under dividend option-existing plan was Rs.33.5784 and under dividend option-direct plan was Rs.34.2344. .
UTI Mastershare Unit Scheme, the first diversified equity mutual fund scheme of the country was launched in October 1986 and it has completed 30 years of Wealth Creation. UTI Mastershare has a track record of 30 years of uninterrupted dividend distribution across all market cycles- be it bearish or bullish. The scheme has also rewarded investors with bonus and rights on many occasions.
This scheme is an open ended equity oriented scheme having a corpus of Rs.3501.52 crore (as on September 30, 2016) and over 5 lakh investor accounts (as on September 30, 2016). It aims at securing capital appreciation / or income distribution over a long term, by investing in equity shares and equity related instruments and fully convertible bonds/debentures of companies. The scheme follows a disciplined approach to invest and has maintained stream of annual dividend by booking annual profits.
UTI Mastershare Unit Scheme is a predominantly large-cap focused fund. The scheme’s top holding as on September 30, 2016 consists of well known and researched companies. The scheme has a well disciplined investment criterion in sector/stock allocation and number of stocks.
Ms. Swati Kulkarni, Fund Manager, UTI AMC, said, “UTI Mastershare Unit Scheme invests predominantly in companies with large market capitalization whose earnings growth potential is better. Often, these large cap companies generate strong and sustainable cash flows, have cost advantage due to size and enjoy leading position in the market. UTI Mastershare Unit Scheme 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 steady returns and has helped the fund to weather the market phases effectively in the past."