UTI Infra Fund declares 35% dividend

Kolkata, Jun 20 (UNI) UTI-Infrastructure Fund has declared tax-free dividend of 35 per cent.

A company release today said all unitholders registered under the dividend option of UTI-Infrastructure Fund as on June 22 next would be eligible for this dividend. The NAV per unit as on June 19 was Rs 22.14 under the dividend option.

During the last one year the fund has generated a return of 63.14 per cent as compared to benchmark return of 50.67 per cent.

UTI-Infrastructure Fund was launched in March 2004 as an open-end equity fund. UTI-Infrastructure Fund is one of the six funds launched under UTI-Thematic Fund. The UTI-Infrastructure Fund has invested in companies engaged in the sectors like Metals, Building Materials, Oil&Gas, Power, Chemicals, Engineering etc. The fund also invests in stocks of the companies, which form the part of Infrastructure Industries.

UTI-Infrastructure Fund Manager Sanjay Dongre said, ''The fund's performance is linked to the overall economic growth of the country as the sectors in which the fund invests are directly linked to the GDP growth of India. The government initiative to accelerate the infrastructure spending will provide significant impetus to the growing economy.'' ''The fund provides the investor an opportunity to participate in the growth of key sectors benefitting from the infrastructure development in India,'' he added.

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 of Rs.4,0070 crore and investor accounts of 8 million under its 71 domestic schemes on May 31, 2007.

UNI