26 February 2006
Hat-Trick From UTI Mutual Fund
UTI Mutual Fund rewards its investors with yet another dividend of 100% in UTI Master Value Fund
UTI- Master Value Fund declares third consecutive dividend of 100% (Rs 10.00 per unit on face value of Rs.10/-). The record date for the dividend is March 1, 2006. This dividend is tax-free.
During the financial year 2003-04 and 2004-05 the scheme had declared a dividend of 100% (Rs.10.00 per unit on face value of Rs.10/-). All unit holders registered under the dividend option of UTI Master Value Fund as on March 1, 2006 will be eligible for this tax-free 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 February 22, 2006 was Rs.28.50 under the dividend option (Post dividend distribution, NAV will fall to the extent of the pay out).
UTI Master Value Fund is an open-ended equity oriented value scheme, which was launched in June 1998 as the close-ended fund and made open-ended from 17th February 2003.
The investment objective of the scheme is to provide investors the benefits of capital appreciation through investment in stocks that are relatively undervalued to their expected long-term earnings growth.
The scheme invests up to 80% of the net assets in the scrips having anyone or more of the following characteristics at the time of acquisition Low P/E ratio (PE ratio lower than the market PE or the sector PE) OR Attractive dividend yield OR Low price to book value ratio OR Companies with positive Economic Value Added (EVA).
Up to 20% of net assets is invested in equity / equity related instruments issued by blue chip companies with a potential for consistent growth and with management of high quality and track record and not more than 20% of net assets is invested in money market instruments.
Shri Chandraprakash Padiyar, the Fund Manager of the scheme said βUTI- Master Value Fund is positioned as a pure value scheme.
The scheme invests in stocks that are relatively undervalued to their intrinsic value and which will create wealth for the various stakeholders in the medium to long term.β
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