UTI Balanced Fund declares 21% dividend

All unitholders registered under the dividend option of UTI Balanced Fund on the record date i.e. March 22, 2007 will be eligible to receive this dividend. This pay out includes the applicable income distribution tax.Pursuant to the payment of dividend, the NAV of the dividend option of the scheme would fall to the extent of payout and statutory levy if any. The NAV per unit as on March 22, 2007 was Rs.20.82 under the dividend option.

Considering the income distribution tax, the pay out translates into a dividend of 18.417% (Rs.1.8417 per unit on a face value of Rs.10/-) for individual and HUF investors and of 17.151% (Rs.1.7151 per unit on a face value of Rs.10/-) for other categories of investors.

UTI Balanced Fund was launched in 1995 as an open-end balanced scheme. The scheme aims to invest in a portfolio of equity/equity related securities and fixed income securities (debt and money market securities) with a view to generate regular income together with capital appreciation.

Amandeep S Chopra the fund manager of the scheme said "The asset allocation in the scheme is designed keeping in mind the necessity of providing consistent returns and maintaining a balance between debt and equity."

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