UTI Opportunities Fund has declared tax-free dividend of 8 per cent (Rs 0.80 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.
The record date for the dividend is May 2. All unit-holders registered under the dividend option of UTI Opportunities Fund as on the record date 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 April 26 was Rs 15.00 under the dividend option. The scheme has consistently outperformed the benchmark BSE 100. It has given 15.27 per cent return over one year, 15.40 per cent in three years and 12.82 per cent over five years compared with 9.51 per cent, 4.73 per cent and 10.39 per cent returns on the Sensex, respectively. However, past performance may or may not be sustained in the future.
UTI Opportunities Fund was launched in July 2005 as an open-ended equity scheme. The investment objective of the scheme is to generate capital appreciation and/or income distribution by investing in equity and equity related instruments.
The main focus of the scheme is to capitalize on opportunities arising in the market by responding to the dynamically changing Indian economy by moving investments amongst different sectors as prevailing trends change. UTI Opportunities Fund predominantly invests in 4 to 5 sectors that are expected to outperform the broader market in short to medium term.
Harsha Upadhyaya is the fund manager for the scheme.