Mumbai, July 15: UTI Mutual Fund has declared a 1:10 bonus (one unit for every 10 held) for its children career plan (UTI CCP). The bonus would be issued to all unit holders, who would be on the books as on July 31, 2003, UTI MF said in a release here today.
As on July 11, the net asset value was Rs 13.87 and fund size was about Rs 1,000 crore.
UTI CCP, launched in 1993, is an open-ended plan with two options - growth and scholarship. The plan aims to enable investment in the name of children upto the age of 15 years so as to provide them the financial means to meet the cost of higher education or to meet other obligations after attaining the age of 18 years. Bureau Report