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UTI Mutual Fund on Monday, 28 January 2008, declared a dividend under Variable Investment Scheme-Index Linked Plan (UTI-VIS-ILP), under the dividend option of UTI Short Term Income Fund resulting in a gross pay-out of 14 per cent, translating into Rs. 1.40 per unit on a face value of Rs. 10, including the applicable income distribution tax. The quantum of dividend is 0.55% i.e. Rs. 0.55 per unit on the face value of Rs.10. The NAV of the scheme was recorded at Rs 10.1809 as on 28 January 2008 . UTI Short Term Income Fund is an open-ended income scheme with an objective to generate steady and reasonable income with low risk an high level of liquidity form a portfolio of money market instruments and high quality debt.

This scheme is launched with aims to generate regular returns by investing in a portfolio of fixed income securities normally maturing in line with the time profile of the plan. The record date for the dividend is December 20. This is the fifth dividend under the scheme since its launch in 2002. The asset allocation under the scheme as on November 30 was 32.11 per cent in equity and balance 67.89 per cent in debt, central government securities and money-market instruments.