UTI Mutual Fund has introduced an option for investors to contribute a part of their dividend for rehabilitation of cancer affected children. The fund house has tied up with St. Jude India ChildCare Centres which supports 257 families of cancer affected children through its 18 centres in Mumbai. 

The option ‘CanServe’ to donate a part of dividend perpetually is available in UTI Balanced Fund, UTI Spread Fund and UTI Mastershare Unit Scheme. While new investors can avail themselves CanServe directly, the existing investors have to fill in a fresh form. 

Investors in Growth option of these three schemes can specify a particular amount (minimum of ₹1,000) for contribution on half yearly basis. UTI will redeem units worth the amount specified by investor and credit it to ‘CanServe’.

Leo Puri, Managing Director, UTI Asset Management Company, said the initiative will provide a platform for investors to contribute their might for a social cause of helping under privileged cancer affected children.

“The three funds have been selected on the basis of their dividend track record in the past and there is no assurance whatsoever that the record would be maintained,” he said as a matter of caution.

Suraj Kaeley, Group President, UTI MF, said based on the response from investors, the fund house would extend the facility across other schemes.

Usha Banerji, CEO, St Jude India ChildCare Centres, said the initiative by UTI would ensure steady flow of funds and aid in achieving its target to open 14 new centres and support 292 families by next year.

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