UTI MF introduces Systematic Withdrawal Plan facility under dividend payout and reinvestment option
UTI Mutual Fund announces introduction of Systematic Withdrawal Plan (SWP) facility under dividend payout and reinvestment option with immediate effect on a prospective basis.The proposed changes are:
Systematic Withdrawal Plan (SWP) will be available in the dividend option with payout and reinvestment/growth option of the eligible schemes.
SWP Dates: 1st of every month. In case the date falls on a holiday/book closure period, the next business day will be considered for this purpose. If the record date for dividend distribution falls on SWP date, then SWP will be effected first and thereafter dividend distribution will be made except under daily dividend option of the UTI-Treasury Advantage Fund, UTI-Liquid Cash Plan-Regular, UTI-Floating Rate Fund Short Term Plan-Regular and UTI-Money Market Fund-Regular Plan.
Eligibility: Investment under dividend option with payout and reinvestment as well as growth option of the scheme/s are eligible. SWP will start after a cooling period of one month (excluding the month of investment).
Powered by Capital Market - Live News