UTI-Opportunities Fund declares tax-free dividend of 9%

UTI-Opportunities Fund declares tax-free dividend of 9% (Rs.0.90 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.

The record date for the dividend is April 19, 2012.

All unitholders registered under the dividend option of UTI-Opportunities Fund as on the record date will be eligible for this dividend. Also investors who join the dividend option of the scheme on or before the cut off time of the record date will be eligible for the dividend.

The NAV per unit as on April 13, 2012 was Rs.14.31 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.

Mr. Anoop Bhaskar 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 is one of the largest mutual fund in India with investor accounts of more than 10 million under its 92 domestic schemes / plans as on March 31, 2012.