UTI Mastershare has declared September 18, 2003 as the record date for the payment of dividend. The rate of divided payout will be announced on August 30, 2003, when the Board of UTI Trustee Company (P) Ltd. will be meeting to decide on the matter. The book closure period for the same will be September 19, 2003 to September 25, 2003 (both days inclusive).
Moreover, it is now decided that the dividend (as and when declared), irrespective of the value of investment, shall be paid to all eligible unit holders irrespective of the amount of such dividend. Hence as was intimated that dividend amount in the case of those folios where the value of investment is below Rs 20,000 shall be automatically re-invested in the scheme, stands cancelled.
UTI Mastershare is due for conversion into an open-ended fund with effect from September 12, 2003. All the existing unit holders, who don't want to stay invested in the fund, can exit at NAV during the exit option period of August 13, 2003 to September 11, 2003.
Launched in September 1986, Mastershare was the first diversified equity fund in India. Today, it has the Rs 1,231 crore of assets under management. The fund has a good track record of pay outs with sixteen dividends, three bonus issues and two rights issues in its seventeen years of existence. Last year, it declared a dividend of 10 per cent. The fund has given an annualised return of 18.94 per cent since its launch.
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