UTI Mutual Fund has announced 1 February 2010 as the record date for declaration of dividend under UTI Fixed Term Income Fund-Series V-X (12 months) (closed ended income scheme). The fund house has decided to distribute 100% distributable surplus as dividend on the record date on the face value of Rs 10 per unit.

The Mutual fund industry is passing through testing times, with assets dwindling owing to withdrawals by banks and investors showing little faith in the long-term prospects of MFs. Fund houses are now going back to the basics: serving individual investors rather than chasing banks and companies for showing impressive figures of assets under management, something that the Securities and Exchange Board of India has been advocating.

Birla Sun Life Mutual Fund CEO A Balasubramanian said investors have to be educated about the need for "proper financial planning for long-term prospects and that they don't have a better vehicle than mutual funds to achieve it".