UTI Mutual Fund has announced a dividend of 8% i.e. Rs 0.80 per unit on the face value of Rs. 10 under the dividend option of UTI Dividend Yield Fund. The record date for the dividend is fixed as 17 September 2007.
UTI Dividend Yield Fund is an open ended equity oriented scheme with an aim to provide medium to long term capital gains by investing predominantly in equity and equity related instruments offering high dividend yield.
The scheme charges an entry load of 2.25% for the investment of less than Rs 2 crore. There will not be any entry load for the investment above Rs 2 crore. The scheme charges an exit load of 1.00% for the investment less than Rs 2 crore and if that investment is redeemed before the 180 days from the date of investment. The exit load will come down to 0.50% for the investment above Rs 2 crore withdrawn within 180 days from the date of allotment.
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