UTI Mutual Fund has declared a bonus under three of its schemes – UTI-Children’s Career Balanced Plan, UTI Unit Linked Insurance Plan and UTI Retirement Benefit Pension Fund. The bonus has been declared in the ratio of 1 unit for every 10 units held of face value of Rs 10 each.
UTI Children’s Career Balanced Plan invests in equities, debentures/bonds of companies and other money market instruments The scheme has an asset allocation limit of minimum 60% in debt and maximum 40% in equities/equity related instruments.
UTI Retirement Benefit Pension Fund is a government notified open-end tax saving-cum-pension fund. Contribution made by individuals in the scheme qualify for deduction of the whole amount paid or deposited subject to a maximum of rupees one lakh under Section 80C of Income Tax Act, 1961. The scheme invests minimum 60 per cent and maximum 100% in debt and balance in equity.
UTI-ULIP is an open-end tax saving cum insurance scheme. It is the first insurance-linked mutual fund product in the country with a corpus of approximately Rs 2,367 crore. The scheme is positioned as a debt oriented balanced fund with a long term investment objective aiming to deliver capital appreciation.