NewZNew (Chandigarh) : UTI-SPrEAD Fund declares tax-free dividend of 0.65% (Rs. 0.065 per unit on face value of Rs.10/-) under dividend option-existing plan and dividend option –direct plan. Pursuant to the payment of dividend, the NAV of the dividend option-existing plan and dividend option-direct plan of the scheme would fall to the extent of payout.
The record date for the dividend is August 20, 2015.
All unit holders registered under the dividend option-existing plan and dividend option- direct plan of UTI-SPrEAD Fund as on the record date will be eligible for this dividend.
The NAV of UTI-SPrEAD Fund on August 14, 2015 under dividend option-existing plan was Rs.15.5933 and under dividend option-direct plan was Rs.15.8245.
The investment objective of the scheme is to provide capital appreciation and dividend distribution through arbitrage opportunities arising out of price differences between the cash and derivative market by investing predominantly in equity and equity-related securities, derivatives and the balance portion in debt securities. However there can be no assurance that the investment objective of the scheme will be realized.
UTI-SPrEAD Fund is an open-ended equity fund investing in a mix of equity, equity derivatives, debt and money market instruments.
Mr Kaushik Basu is the fund manager of the scheme.