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UTI Announces Dividend in Three Equity Schemes


UTI has announced dividends in three of its schemes namely:- Master Equity Plan '99 (MEP 99), Index Select Equity Fund and Master Growth. The record date for the same has been set as January 10, 2002.

MEP 99, a close-ended equity tax-planning fund has announced a dividend of 12 per cent (Rs 1.20 per unit). This is the third dividend from the fund since its launch in March 1999. Both the earlier payouts were of 15 per cent. The fund paid its first dividend in February 2000 and the other one in October 2000.

A dividend of 12 per cent (Rs 1.20 per unit) has also been declared in Index Select Equity, an open-ended equity-diversified fund. The fund paid its first dividend of 15 per cent in March 2001 and this will be the second dividend. As the fund name suggests it does not replicate any of the indices but decides its portfolio weightage within the index scrips.

Master Growth, an open-ended equity-diversified fund has announced a dividend of 11 per cent ( Rs 1.10 per unit). The fund was originally launched as a close-ended fund in February 1993. It went open-ended in December 1999 and since then it has paid two dividends: 15 per cent in January 2000 and 12 per cent in February 2001. It will be the third dividend from the fund.