The UTI mutual fund has announced the declaration of dividend under dividend option of UTI-Spread between Price of Equity And Derivative Fund (UTI SPrEAD Fund). The record date for dividend will be 19 February 2008. The quantum of dividend is 8% i.e. Rs. 0.80 per unit on the face value of Rs. 10. The NAV of the scheme was recorded at Rs 11.4800 as on 12 February 2008.
UTI SPrEAD Fund is open-ended equity fund investing in a mix of equity, equity, debt, and money market instruments. The investment objective of the scheme is to provide capital appreciation and dividend distribution through arbitrage opportunities arising out of price difference between the cash and derivative market by investing predominantly equity and equity-related securities, derivatives and the balance portion in debt securities.
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