UTI Mutual Fund has approved Mar.17, 2010 as the record date for declaration of dividend under dividend option of UTI Dividend Yield Fund (open ended equity oriented scheme). The quantum of dividend will be 5% (Rs 0.50 per unit) as on the record date.

Though sales from diversified equity schemes have come down sharply in February, a huge fall in redemptions helped the mutual fund (MF) industry to maintain healthy net inflows for the month. While sales from existing equity schemes dropped 36.1% to Rs 5,006 crore, redemptions, which hit a two-year high this January, plummeted 49% to Rs 3,492 crore, data with the Association of Mutual Funds in India (AMFI) shows. Redemptions from equity schemes for February are the lowest since last April.