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UTI G-Sec Fund announces dividend

Unit Trust of India's G-Sec Fund has announced a third dividend of 12 per cent Rs 12 per unit with a face value of Rs 100). The record date for the same is June 23, 2001.

UTI-G Sec is an open-ended medium term Gilt Fund, investing only in sovereign issues of Central and State government. This kind of investment mandate lends liquidity and minimum credit risk to the portfolio. Although with an asset base of Rs 443 crore, the fund has emerged as the largest Gilt fund, but on the returns parameters, the fund has lagged behind its category. Based on the one-year returns, UTI G-Sec has returned 12.65%, against the category average of 14.61% for 21 funds.