Reap dividend

UTI Mutual Fund has declared a dividend of 18 per cent, or Rs 1.80 per unit, with a face value of Rs 10 under the dividend option of its Opportunities Fund. The dividend will be tax free in the hands of unitholders. The record date for the dividend payout has been fixed as July 1. All unitholders registered under the dividend option of UTI-Opportunities Fund as on the record date will be eligible for this dividend.

Life’s like that

ING Vysya Life Insurance Company has launched two lifestyle protection plans — ING Term Life and ING Term Life Plus. The plans have a maximum policy term of 30 years each and the maximum age of entry is 65 years. However, the life cover is provided up to the age of 75. A policyholder can opt for paying a single premium or limited premium or regular premium terms.

Load factor

Kotak Mutual Fund has revised the load structures of its schemes with effect from July 1. An entry load of 2.25 per cent will be charged for investments less than Rs 5 crore and an exit load of 1 per cent will be charged for redemptions/switch outs made within one year from the date of allotment. Kotak Flexi Debt scheme will charge an exit load of 0.15 per cent if redeemed within one working day after the date of allotment.