UTI Software Fund declares 20% dividend

The record date for the dividend is December 1, 2006. All unitholders registered under the dividend option of UTI Software Fund as on December 1, 2006 will be eligible for this dividend. Also investors who join the dividend option of the scheme on or before the record date will be eligible for the dividend. The NAV per unit as on November 28, 2006 was Rs.23.59 under the dividend option.

UTI Software Fund was launched in May 1999 as an open-ended equity scheme. Investment objective of the scheme is to provide investors the benefits of capital appreciation and income distribution through investments in equities and equity related instruments of information technology companies with at least 80% in software companies.

Sanjay Dongre, Fund Manager of the scheme said, "The offshore demand continues to remain strong as indicated by strong hiring and positive comments by IT companies. Billing rates are showing improvement as the new clients are coming at higher than average Billing rate. The Fund continues to take exposure in companies characterized by 'Size' and 'Quality'."

Over the last one year, UTI Software Fund has yielded 59.10% as compared to 50.63% given by its benchmark S&P CNX Computer Software Index as on November 22, 2006.

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