26 March 2006
Bonus For UTI-ULIP Members
UTI Unit Linked Insurance Plan (UTI-ULIP) announces a bonus of 2:15 (2 units for every 15 units held of face value Rs.10/- each). The record date is March 30, 2006. The NAV per unit was Rs.16.9918 on March 17, 2006 (On allotment of bonus units, NAV will fall to the extent of bonus declared).
UTI’s ULIP is the first and largest insurance linked mutual fund product in the country with a corpus of Rs.4086 crore (as on February 28, 2006). The scheme provides a 5-in-1 unique package of benefits as under Investment by an individual in the scheme is eligible for exemption under section 80C of Income Tax Act 1961, Life Insurance Cover without any medical examination, Accident cover, Scope for growth of investment, Ability to time investments for payment of renewal contribution.
Scheme Performance as on February 28, 2006. Performance comparison with Benchmark Index. Compounded Annualised Returns, over last one year, NAV: 25.01%, CRISIL MIP Blended Index. Over last 3 years, NAV: 21.78%, CRISIL MIP Blended Index, 9.68%. Over last 5 years, NAV: 12.90%, CRISIL MIP Blended Index, Not available. Over last 10 years, NAV: 11.47%, CRISIL MIP Blended Index, Not available. Over last 15 years, NAV: 12.32%, CRISIL MIP Blended Index, Not available. Since inception, NAV: 8.76%, CRISIL MIP Blended Index, Not available.
Shri Siddharth Dembi the Fund Manager of the scheme said, “UTI ULIP is positioned as a unique balanced fund with a long term investment objective aiming to deliver reasonable return in comparison with similar products.
Given the long-term nature of the product, emphasis is laid on adjusting the asset allocation and the mix within an asset class depending on the prevailing market conditions. The scheme is ideally suited for investors looking for growth over a horizon of 10-15 years with added benefits of life insurance cover, accident cover and tax benefits.”