UTI-Children’s Career Balanced Plan, UTI Unit Linked Insurance Plan and UTI Retirement Benefit Pension Fund declares 1:10 bonus
UTI Mutual Fund has declared a bonus under three of its schemes viz UTI-Children’s Career Balanced Plan, UTI Unit Linked Insurance Plan and UTI Retirement Benefit Pension Fund in the ratio of 1 unit for every 10 units held of face value of Rs.10/- each. Pursuant to the payment of bonus, the NAVs of the schemes would fall to the extent of bonus units allotted and statutory levy if any
The record date for the bonus under aforesaid schemes is April 25, 2011.
NAV per unit of UTI-Children's Career Balanced Plan as on April 19, 2011 was Rs.15.5918.
NAV per unit of UTI ULIP as on April 19, 2011 was Rs. 18.6852.
NAV per unit of UTI-Retirement Benefit Pension Fund as on April 19, 2011 was Rs.19.7351.
UTI Children’s Career Balanced Plan
UTI Children’s Career Balanced Plan invests in equities, debentures/bonds of companies and other money market instruments The scheme has an asset allocation limit of minimum 60% in debt and maximum 40% in equities/equity related instruments. UTI Children’s Career Balanced Plan offers two options viz. Growth and Scholarship Options. The minimum amount of investment is Rs.1000/- under both the options.
Mr Amandeep Chopra is the fund manager of the debt portfolio of UTI Children’s Career Balanced Plan and Mr Anoop Bhaskar is the fund manager of the equity portfolio of the scheme.
UTI- Retirement Benefit Pension Fund
UTI Retirement Benefit Pension Fund is an open-end tax saving-cum-pension fund. The scheme has been notified by Central Government in the Gazette Notification dated November 3, 2005 as a Pension Fund eligible under sub-section (2), clause (xiv) of section 80C of Income- tax Act, 1961 for assessment year 2006-07 and subsequent assessment years.
Contribution made by individuals under UTI-Retirement Benefit Pension Fund will qualify for deduction of the whole amount paid or deposited subject to a maximum of Rs.1,00,000/- under Section 80C of Income Tax Act, 1961 as provided therein.
The investment objective of the scheme is to primarily provide pension in the form of periodical income/cashflow to the members to the extent of redemption value of their holding after they attain the age of 58 years. The scheme invests minimum 60% and maximum 100% in debt and balance in equity.
Mr Amandeep Chopra is the fund manager of the debt portfolio of UTI Retirement Benefit Pension Plan and Mr V Srivatsa is the fund manager of the equity portfolio of the scheme.
UTI Unit Linked Insurance Plan
UTI-ULIP is an open-end tax saving cum insurance scheme. The investment objective of the scheme is primarily to provide returns through growth in NAV or through income distribution and reinvestment thereof. It is a unique product, which provides multiple benefits to its investors viz. Life Insurance Cover without any medical examination, Accident Cover up to Rs.50,000/-, Tax benefits under sec 80C of Income Tax Act, 1961, Easy Liquidity and Ability to time investments for payment of renewal contribution
UTI’s ULIP is the first insurance linked mutual fund product in the country with a corpus of approx. Rs.2367 crore. The scheme is positioned as a debt oriented balanced fund with a long term investment objective aiming to deliver capital appreciation.
Mr Amandeep Chopra is the fund manager of the scheme.
About UTI Mutual Fund
UTI Mutual Fund is a SEBI registered mutual fund whose Sponsors are State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India
UTI Mutual Fund has assets under management (average) of Rs.67188.82 crore and investor accounts of 9.88 million under its 82 domestic schemes (Quarter ended March 31, 2011).
Mumbai
April 21, 2011
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Registered Office: UTI Tower Baroda and Life Insurance Corporation of India
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