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UTI MF Declares 20% Dividend

The dividend declaration applied to three of UTI MF’s funds

UTI Mutual Fund has announced dividends in its three open-end equity schemes – UTI Master Value, UTI Mid Cap and UTI Transportation and Logistics.

The record date for the declaration of dividends is June 15, 2009.

The quantum of the declaration under all the schemes will be 20 per cent or Rs 2 per unit.

The net asset values (NAVs) per unit as on June 9, 2009 for UTI Master Value was Rs 17.65, for UTI Mid Cap it was Rs 16.76, while for UTI Transport and Logistics Fund it was Rs 12.66.

Anoop Bhaskar is the fund manager of all of these schemes.

UTI Master Value Fund is rated two-stars and aims at investing in stocks which are currently under-valued to their future earning potential and carry a medium-risk profile to provide capital appreciation. While the year to date (as of June 9, 2009) returns of the fund was 50.34 per cent, the return in 2008 stood at -58.05 per cent.

UTI Transportation and Logistics Fund, is unrated and aims to provide capital appreciation through investments in stocks of companies engaged in providing transportation services, design, manufacture, distribution or sale of transportation equipment and companies in logistics sector. While the year to date (as of June 9, 2009) returns of the fund was 58.03 per cent, the returns in 2008 stood at -48.77 per cent.

UTI Mid Cap Fund has been rated two stars and has the objective to provide capital appreciation by investing primarily in mid-cap stocks. While the year-to-date (as on June 9, 2009) returns of the fund were 48.21 per cent, the return in 2008 was -61.12 per cent.