Unit Trust of India has declared a bonus issue of 2 units to every 10 units held in its Children's Career Plan. All unit holders as on 19th July 2002, will be eligible for the bonus.
Children's Career Plan (CCP) (formally Children's College and Career Fund (CCCF)), an open ended scheme launched in 1993, aims to enable investment in the name of a child less than 15 years of age to meet their higher education expenses through provision of scholarship starting from the age of 18 years. The scheme invests in equities upto 40 percent, rest in convertible and non-convertible debentures and capital and money market instruments. The plan's return till date is 10.32 percent, calculated on an annualised basis.