UTI-Opportunities Fund declares 18% dividend

UTI-Opportunities Fund has declared dividend of 18% (Rs.1.80 per unit on face value of Rs.10/-). Pursuant to the payment of dividend, the NAV of the dividend option of the scheme would fall to the extent of payout.  (Check out - Recent MF Dividends ) 
 
The record date for the dividend is July 1, 2008. All unitholders registered under the dividend option of UTI-Opportunities Fund as on the record date will be eligible for this dividend.
 
The scheme had earlier declared dividend of 15% (Rs.1.50 per unit on face value of Rs 10) in July 2006 and 17% (Rs.1.70 per unit on face value of Rs 10) in June 2007.

The NAV per unit as on June 25, 2008 was Rs.12.30 under the dividend option.

UTI Opportunities Fund was launched in July 2005 as an open-ended equity scheme. The investment objective of the scheme is to generate capital appreciation and/or income distribution by investing in equity and equity related instruments. The main focus of the scheme is to capitalize on opportunities arising in the market by responding to the dynamically changing Indian economy by moving investments amongst different sectors as prevailing trends change. UTI Opportunities Fund predominantly invests in 4 to 5 sectors that are expected to outperform the broader market in short to medium term.

Harsha Upadhyaya, Fund Manager of UTI Opportunities Fund said, ”While actively managing the portfolio, the fund stays true to its mandate of finding potential opportunities across sectors and stocks. By dynamically altering the portfolio in response to the changing market trends, the sector rotation strategy endeavours to outperform the broader market. The fund’s predominant investment style is growth with an orientation towards large caps. Currently the portfolio has around 35 stocks.”

Over the last one year, UTI Opportunities Fund has yielded 3.6% as compared to -1.94% given by its benchmark BSE Sensex as on June 25, 2008.

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