UTI Mutual Fund
has declared a bonus under three of its schemes viz UTI-Children’s Career Balanced Plan, UTI Unit Linked Insurance Plan 1971 and UTI Retirement Benefit Pension Fund in the ratio of 1 unit for every 10 units held of face value of Rs.10/- each. Pursuant to the allotment of bonus units, the NAVs of the said schemes would fall to the extent of bonus units allotted and statutory levy if any
The record date for the issue of bonus units under the aforesaid schemes is September 1, 2014.
All unit holders registered under the UTI-Children’s Career Balanced Plan-Existing Plan & UTI Children’s Career Balanced Plan-Direct Plan, UTI Unit Linked Insurance Plan 1971 -Existing Plan & UTI Unit Linked Insurance Plan 1971 -Direct Plan and UTI Retirement Benefit Pension Fund –Existing Plan & UTI Retirement Benefit Pension Fund-Direct Plan as on the record date will be eligible for the bonus units.
The NAV of UTI-Children's Career Balanced Plan-Existing Plan and UTI Children’s Career Balanced Plan-Direct Plan on August 25, 2014 was Rs16.9392 and Rs.16.9731 respectively.
The NAV of UTI Unit Linked Insurance Plan 1971 -Existing Plan and UTI Unit Linked Insurance Plan 1971 -Direct Plan on August 25, 2014 was Rs.19.2033 and Rs.19.3485 respectively.
The NAV per of UTI-Retirement Benefit Pension Fund-Existing Plan and UTI Retirement Benefit Pension Fund-Direct Plan on August 25, 2014 was Rs.19.9374 and Rs.20.0982 respectively.
UTI Children’s Career Balanced Plan
UTI Children’s Career Balanced Plan invests in equities, convertible and non-convertible debentures/bonds of companies and money market instruments The scheme has an asset allocation limit of minimum 60% in debt and maximum 40% in equities/equity related instruments. UTI Children’s Career Balanced Plan offers two options viz. Growth and Scholarship Options. The minimum amount of investment is Rs.1000/- under both the options.
Amandeep Chopra is the fund manager for the debt portfolio of UTI Children’s Career Balanced Plan and Anoop Bhaskar and Kaushik Basu are the fund managers for the equity portfolio of the scheme.
UTI- Retirement Benefit Pension Fund
UTI Retirement Benefit Pension Fund is an open-ended notified tax saving-cum-pension scheme with no assured returns. The scheme has been notified by Central Government in the Gazette Notification dated November 3, 2005 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 assessment years.
Contribution made by individuals under UTI-Retirement Benefit Pension Fund qualifies for deduction of the whole amount paid or deposited subject to a maximum of Rs.1,50,000/- under Section 80C of Income Tax Act, 1961 as provided therein (subject to prevailing tax laws)
The investment objective of the scheme is to primarily provide pension in the form of periodical income/cashflow to the unitholders to the extent of redemption value of their holding after they complete the age of 58 years. The scheme invests minimum 60% in debt and balance in equity.
Amandeep Chopra is the fund manager for the debt portfolio of UTI Retirement Benefit Pension Plan and Mr V Srivatsa is the fund manager for the equity portfolio of the scheme.UTI Unit Linked Insurance Plan 1971Unit Linked Insurance Plan 1971 is the first insurance linked mutual fund product in the country.
It is an open-end tax saving cum insurance scheme. The investment objective of the scheme is primarily to provide returns through growth in NAV or through dividend distribution and reinvestment thereof. It is a unique product, which provides multiple benefits to its investors viz. Life Insurance Cover without any medical examination, Accident Cover up to Rs.50,000/-, Tax benefits under Sec 80C of Income Tax Act, 1961, Easy Liquidity and Ability to time investments for payment of renewal contribution (subject to prevailing tax laws).
Amandeep Chopra is the fund manager of the scheme.