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UTI Mastershare, India’s first equity-oriented scheme, announced a dividend of 27 per cent dividend under options-regular plan and option-direct plan.
The figure shows that UTI Mastershare will give Rs 2.70 per unit on face value of Rs 10.
The record date for the dividend is November 15, 2018.
Swati Kulkarni, Executive Vice President and Fund Manager, UTI AMC, said, “UTI Mastershare Unit Scheme predominantly invests in largecap companies having competitive advantage in their respective fields.
It follows an investment style of Growth at Reasonable Price (GARP) for stock picking.
That means, given the underlying growth in earnings of a company, how much is the reasonable price that one should pay to buy that stock in the portfolio.
This approach gives it a framework to buy companies having future earnings growth as well as valuation comfort.”
HDFC Bank, ICICI Bank, Infosys, Tata Consultancy Services, ITC, Tech Mahindra, Larsen Toubro Ltd, Indus Ind Bank, Kotak Mahindra Bank, Axis Bank etc were among the portfolio of UTI Mastershare as of October 31, 2018.
Top 10 stocks account for over 48 per cent of the portfolio.
The scheme is overweight on private sector banks, rural facing non-banking finance companies (NBFC), information technology, industrial manufacturing and underweight on energy, consumer, and metals.
“All unit holders registered under the dividend option-regular plan and dividend option- direct plan of UTI Mastershare Unit Scheme as on the record date will be eligible for this dividend.
Also investors who join the dividend option -regular plan and dividend option-direct plan of the scheme on or before the cut off time of the record date will be eligible for the dividend,” the media release said.
The NAV of UTI Mastershare Unit Scheme on November 9, 2018 under dividend option-regular plan was Rs 32.9688 and under dividend option-direct plan was Rs 34.3292.
This scheme is an open ended equity scheme having a corpus of Rs 5314 crore (as on October 31, 2018) and 5.70 lakh investor accounts (as October 31, 2018).
UTI Mastershare Unit Scheme, launched in October 1986, has generated 75 times return in the past 32 years.
