• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Our Bureau

Mumbai , Oct. 7

UTI Retirement Benefit Plan (UTI RBP) has declared its first-ever bonus at 25 per cent, or one unit for every four units of face value Rs 10 held.

The record date for the declaration of bonus is October 24. The plan has, in the past, declared two dividends at 11.5 per cent and 10 per cent in June 2000 and June 2001 respectively, a press release from UTI said.

UTI RBP, an open-end pension fund, had an NAV of Rs 20.58 as on October 3. It has given a return of 10.56 per cent since inception and 21.23 per cent over the past one year. It invests not less than 60 per cent in debt and not more than 40 per cent of its corpus in equity instruments, it said.

The objective of the plan, which is eligible for income tax rebate, is to provide pension to investors particularly self-employed persons after they attain the age of 58 years, in the form of periodical cash flow at regular intervals, the release added.

Article E-Mail :: Comment :: Syndication

Stories in this Section
1:4 bonus from UTI Retirement Benefit Plan

Copyright © 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line