UTI Mastershare Unit Scheme declares tax-free dividend of 28% (Re.2.80 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 16, 2015.
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 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.
UTI Mastershare Unit Scheme has a track record of consistent dividend distribution for the last 29 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 consists of well known and researched companies like HDFC Bank, Infosys, Axis Bank, TCS, Maruti Suzuki, Reliance Industries, Bharat Forge, ICICI Bank, Asian Paints, SKF India and L&T which account for 46.68% of the portfolio as on October 31, 2015. Scheme has well disciplined investment criterion for sector/stock allocation and number of stocks.
Ms 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."
Monday, November 16, 2015