UTI Mutual Fund Declares Dividend For Transportation Fund - July 27, 2009

UTI Mutual Fund has declared dividend under dividend option of UTI - Infrastructure Fund. The record date of dividend is set as July 31, 2009. The quantum of dividend will be 15% i.e. Rs 1.50 per unit on the record date on face value of Rs 10 per unit. The NAV of the scheme was recorded at Rs 19.2000 per unit as on July 23, 2009.

UTI Infrastructure Fund is an open-ended equity scheme with an investment objective to provide capital appreciation by investing in the companies engaged in the sectors like metals, building materials, oil and gas, power, chemicals, engineering etc.

The fund will invest in the companies' stocks which form the part if infrastructure industries.

MFs Announce Attractive Dividends To Retain Investors

The mutual fund (MF) industry is all set to meet the redemption pressures in a volatile securities market. Mutual funds have more and more started announcing higher dividends to retain the retail investors in various schemes. The fund houses are announcing dividends ranging from 40% to 80% at the close of the current financial year on March 31, 2008. Principal PNB Mutual Fund has decided to pay 80-pc dividend on the Principal Tax Saving Fund, an open-ended equity linked tax saving scheme. The Net Asset Value (NAV) of the scheme as on date is Rs 64.23. The record date for the declaration of the dividend has been kept March 31, 2008. Likewise, Birla Sun Life Mutual Fund has announced to offer a dividend of 60% on its Birla Equity Fund. The NAV of the scheme is Rs 91.29. Commenting on the MF industry's decision to offer an attractive dividend, a senior fund manager from a domestic fund house said that a majority of MF schemes have witnessed a big dip in their Net Asset Value (NAV) due to the recent meltdown in the equity market. The market capitalisation (M-Cap) was hit due to the volatility in the market which was caused due to the sub-prime factor in the global market. Obviously, MF industry offering attractive incentives in form of dividends will certainly help the fund houses in retaining the retail investors in different schemes, he said. Among other fund houses, Kotak Mahindra Mutual Fund has offered a tax free dividend of 40% on its balanced fund. The NAV of the scheme is presently Rs 22.15.

Standard Chartered MF Declares Dividends

Standard Chartered Mutual Fund has announced 31 March 2008 as the record date for declaration of dividend under dividend option of Standard Chartered Fixed Maturity Plan -Quarterly Series 25 and Standard Chartered Fixed Maturity Plan -Quarterly Series 26. The AMC plans to distribute entire appreciation in the NAV of dividend option since inception till 31 March 2008 as dividend for the both the schemes.

The investment objective of both the schemes is to generate income by investing in a portfolio of debt and money market instruments normally in line with the duration of the schemes.

ICICI Prudential MF Declares Dividend

ICICI Prudential Mutual Fund has announced 19 March 2008 as the record date for declaration of dividend under dividend option of the schemes-ICICI Prudential Power and ICICI Prudential Balanced Fund.

The recommended rate of dividends on ICICI Prudential Power and ICICI Prudential Balanced Fund are 20% (Rs 2 per unit) and 10% (Re 1 per unit) respectively.

LIC MF Declares Dividends

LIC Mutual Fund has announced 7 March 2008 as record date for declaration of dividends in three schemes: LIC Index Fund-Sensex Plan. The fund house has decided to pay dividend of 22% i.e. Rs 2.20 on the face value of Rs 10.

LIC Index Fund-Sensex Plan is an open-ended scheme. The investment objective of the fund is to provide capital growth by investing in index stocks.