UTI Mid Cap Fund declares tax-free dividend of 30%

UTI Mid Cap Fund declares tax-free dividend of 30% (Rs. 3/- per unit on face value of Rs.10). The record date for the dividend is August 18, 2006. The NAV per unit as on August 14, 2006 is Rs.19.30 under Dividend option.

UTI Mid Cap Fund was launched in March 2004 as an open-end equity fund. UTI-Mid Cap Fund is one of the six funds launched under UTI -Thematic Fund. The investment objective of the fund is to provide investors the benefits of capital appreciation and income distribution by investing primarily in mid cap stocks.

Shri Chandraprakash Padiyar Fund Manager of the fund said, "UTI Mid Cap Fund is positioned as an aggressively managed equity fund. The portfolio of the fund consists of companies which are a part of either the S&P CNX Mid Cap Index or the S&P CNX 500 index. The underlying stock selection criteria of the fund is to invest in dynamic and well managed medium sized enterprises with higher growth potential vis-à-vis their established larger counterparts."

Source : Equity Bulls

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