UTI Growth Sector Fund - Services Mutual Fund rewards its investors with yet another dividend of 101%

UTI-Growth Sector Fund-Services (UTI-GSF-Services) declares second consecutive dividend of 101% (Rs.10.10 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 and statutory levy if any.

The record date for the dividend is March 16, 2007. This dividend is tax-free.

During the financial year 2005-06 the scheme had declared a dividend of 101% (Rs.10.10 per unit on face value of Rs.10/-).

All unitholders registered under the dividend option of UTI-GSF-Services as on March 16, 2007 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 March 9, 2007 was Rs.33.88 under the dividend option.

UTI -GSF- Services 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 companies engaged in the business of banking, finance & insurance, education & training, telecom services, travel & tourism, leisure & entertainment, transportation etc.

Ms Gautami Desai the Fund Manager of UTI-GSF-Services said, "As per the economic survey 2006-07 service sector has contributed as much as 68.6% of the overall average growth of the GDP in last five years indicating vigorous growth performance in the service sector. The objective of UTI-GSF-Services is to capitalise on this growing service sector pie in India’s GDP. The scheme thus provides an opportunity to investors to participate in this growth."

"UTI-GSF-Services is diversified amongst various industries in the service sector viz. banking, software, telecom, power and hotels." she added.

Source : Equity Bulls

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