UTI Long Term Equity Fund (Tax Saving) declares tax-free dividend

Bangalore, January 13, 2017: UTI Long Term Equity Fund (Tax Saving) declares tax-free dividend of 13.50% (Re.1.35 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 January 17, 2017 

Allunit holders registered under the dividend option-existing plan and dividendoption- direct plan of UTI Long Term Equity Fund (Tax Saving)  as on therecord date will be eligible for this dividend. Also investors who join thedividend option-existing plan and dividend option-direct plan of the scheme onor before the cut off time of the record date will be eligible for thedividend. 

The NAV of UTI Long Term Equity Fund (Tax Saving) on January 11, 2017 under dividend option-existing planwas Rs.19.3120 and under dividend option-direct plan was Rs.22.8246 

UTILong Term Equity Fund (Tax Saving) was launched in December 1999 asan open-ended equity scheme.  The investment objective of thescheme is to invest in equities, fully convertible debentures/bonds andwarrants of companies. Investment may also be made in issues of partlyconvertible debentures/bonds including those issued on rights basis subject tothe condition that, as far as possible, the non-convertible portion of thedebentures/bonds so acquired or subscribed shall be disinvested within a periodof twelve months from their acquisition. 

Investmentmade by individuals under UTI Long Term Equity Fund (Tax Saving) will qualifyfor deduction for the amount invested subject to a maximum of Rs.1,50,000/- underSection 80C of Income Tax Act, 1961 as per the prevailing tax laws. 

MrLalit Nambiar is the fund manager of the scheme


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