This is the value per unit of the scheme on a particular day. You can ascertain the value of your investments by multiplying the NAV with your unit balance.
The Mutual Fund shall declare the Net asset value of the scheme by 9 p.m. on every business day on website of UTI Mutual Fund, www.utimf.com and website of AMFI namely www.amfiindia.com.
The NAV shall be calculated for all business days.
The NAV shall be published in atleast two daily newspapers having nationwide circulation on every business day.
Monthly Portfolio Disclosure The Mutual Fund shall disclose portfolio (along with ISIN) as on the last day of the month for all its schemes on its website on or before the tenth day of the succeeding month in a user-friendly and downloadable format.
The format for monthly portfolio disclosure shall be the same as that of half yearly portfolio disclosures.
The Mutual Fund shall also disclose additional information (such as ratios etc) subject to compliance with the SEBI Advertisement Code.
Half yearly Disclosures: Portfolio / Financial Results This is a list of securities where the corpus of the scheme is currently invested. The market value of these investments is also stated in portfolio disclosures.
The Mutual Fund shall within one month from the close of each half year, (i.e. 31st March and 30th September), host a soft copy of its unaudited financial results on its website.
The Mutual Fund shall publish an advertisement disclosing the hosting of such financial results on the website, in atleast two newspaper one national English daily newspaper having nationwide circulation and one in a newspaper having wide circulation published in the language of the region where the Head Office of UTI MF is situated.
The Mutual Fund shall also, within one month from the close of each half year, (i.e. 31st March and 30th September), publish by way of an advertisement a complete statement of its scheme portfolio in one English daily circulating in the whole of India and in a newspaper published in the language of the region where the head office of UTI MF is situated.
Additional Disclosure: The Mutual Fund shall, in addition to the total commission and expenses paid to distributors, make additional disclosures regarding distributor-wise gross inflows, net inflows, AAUM and ratio of AUM to gross inflows on its website on an yearly basis.
In case, the data mentioned above suggests that a distributor has an excessive portfolio turnover ratio, i.e., more than two times the industry average, the AMC shall conduct additional due-diligence of such distributors.
The Mutual Fund shall also submit the data to AMFI and the consolidated data in this regard shall be disclosed on AMFI website.
Annual Report An abridged annual report in respect of the scheme shall be mailed to the unitholders not later than four months from the date of closure of the relevant accounting year and the full annual report shall be made available for inspection at UTI Tower, Gn Block, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051. A copy of the full annual report shall also be made available to the unitholders on request on payment of nominal fee, if any.
Taxation
The information is provided for general information only and is based on the position provided in the Finance Act 2015. In view of the individual nature of the implications, each investor is advised to consult his or her own tax/legal advisors with respect to the specific tax and other implications arising out of his or her participation in the scheme.
Mutual Fund
Tax on Dividend and Dividend Distribution Tax
UTI Mutual Fund is a Mutual Fund registered with SEBI and as such is eligible for benefits under section 10 (23D) of the Income Tax Act, 1961 (the Act) to have its entire income exempt from income tax. The Mutual Fund will receive income without any deduction of tax at source under the provisions of Section 196(iv) of the Act.
As per the section 10(35) of the Act, dividend received by investors under the schemes of UTI MF is exempt from income tax in the hands of the recipient unit holders.
As per section 115R of the Act, the dividend distribution tax is a) 25% plus surcharge on distribution made to any person being
an individual or a HUF,
b) 30% plus surcharge on income distributed to any other person. The rate of surcharge on income distribution tax is increased from 10% to 12% w.e.f. 01st April 2015.
As per the Finance (No.2) Act 2014, with effect from 01st October 2014, for determining the dividend distribution tax payable, the amount of distributed income be increased to such amount as would, after reduction of the dividend distribution tax from such increased amount, be equal to the income distributed by the Mutual Fund (dividend distribution tax will be payable after grossing up).
Education cess @ 2% and secondary and higher education cess @ 1% would also be charged on amount of tax plus surcharge. Capital Gains
Long Term
Short Term
Resident Investors:
As per the Finance Act 2014, with effect from 11th July 2014, for other than equity oriented schemes, long term capital gains arising on redemption of units by residents is subject to treatment indicated under Section 48 and 112 of the Act. Long term capital gains in respect of units held for more than 36 months is chargeable to tax @ 20% after factoring the benefit of cost inflation index. The said tax rate is to be increased by surcharge, if applicable and Education cess @ 2% and secondary and higher education cess @ 1%.
Units held for not more than thirty six months preceding the date of their transfer are short term capital assets. Capital gains arising from the transfer of short term capital assets for other than equity schemes will be subject to tax at the normal rates of tax applicable to such assessee.
Investor services All investors could refer their grievances giving full particulars of investment at the following address:
Shri G S Arora
Vice President – Department of Operations UTI AMC Ltd.
UTI Tower, Gn Block, Bandra - Kurla Complex, Bandra (East),
Mumbai - 400 051. Tel : 6678 6666 Fax : 2652 3031
Investors may post their grievances at our website: www.utimf.com or e-mail us at [email protected]