Investors who have opted for the 'dividend payout' option in open-ended schemes of UTI Mutual Fund should take note of the following change.
If the dividend amount payable to unit holders under the option is less than Rs 250 in a folio, and where the bank account details or the facility of electronic transfer is not available to the investor's bank account, the amount will be reinvested in the dividend reinvestment option of the scheme. The AMC will send an account statement to the investors whenever such a transaction is processed.
The change will be effective from December 16, 2013.
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