Financial Daily from THE HINDU group of publications
Saturday, Dec 03, 2005
Financial Daily from THE HINDU group of publications Saturday, Dec 03, 2005 |
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Markets
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Mutual Funds UTI declares 1:5 bonus for pension fund Our Bureau
Mumbai , Dec. 2 UTI Retirement Benefit Pension Fund has declared a bonus in the ratio of one unit for every five units held of face value of Rs 10 each. The record date for the bonus is December 23, 2005. This is the third time that the bonus has been declared by the scheme, a press release issued by UTI Mutual Fund said here today. The net asset value as on December 1 was Rs 21.1702. (The NAV will fall to the extent of bonus declared). UTI Retirement Benefit Pension Fund has outperformed the benchmark returns by a wide margin. During the last one year, the scheme has generated a return of 24.20 per cent against benchmark Crisil MIP Blended Index of 11.27 per cent, the release said. The UTI Retirement Benefit Pension Fund is an open-end tax saving-cum-pension fund. The scheme has recently been notified by Central Government as a pension fund eligible under sub-section (2), clause (xiv) of Section 80C of Income Tax Act 1961 for assessment year 2006-07 and subsequent years.
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