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UTI Bond Fund Announces Quarterly Dividend

UTI Bond, a medium-term debt fund has announced its first quarterly dividend of 3 per cent (Rs 0.30 per unit). The record date for the same has been set as January 24, 2002. The dates for book closure will be January 25 to January 27, 2002.

UTI Bond Fund was launched in June 1998. The fund has recently introduced its dividend option in October 1, 2001. A dividend reinvestment facility at the prevailing NAV is also provided under the dividend option.

The fund has built a portfolio of corporate debentures since inception and has largely steered clear of government securities (gilts). Thus, the fund aims at generating returns by earning a steady interest income with little emphasis on trading profits.

The growth option has posted an annualized return of 12.89 per cent since launch.