UTI Mutual Fund today declared tax-free dividend of 10 per cent for its scheme UTI Master Value Fund. The record date for the dividend is March 1,the company said in a statement. All unit holders registered under the dividend options of the scheme as on March 1 would be eligible for dividends. As on February 23,the NAV per unit of UTI Master Value Plan was Rs 22.77 under the dividend options. UTI Master Value Fund is an open-ended equity oriented value fund. The investment objective of the scheme is 'capital appreciation' through investment in stocks that are relatively undervalued to their expected long-term earnings growth. As of December 31,2010,UTI MF manages average assets of Rs 65,387.25 crore.
