UTI Mutual Fund has introduced a new facility called “CanServe” with effect from August 26, 2015 for investments (fresh as well as existing) under UTI Balanced Fund, UTI Spread Fund and UTI Mastershare Unit Scheme.

“CanServe” will enable investors to contribute their dividend payouts if they are under dividend payout option or specified amounts as desired, if they are under growth option towards a medical cause. To provide this platform to investors, UTI Mutual Fund has entered into an agreement with St. Jude India ChildCare Centres. Contributions under “CanServe” facility will go to St Jude India ChildCare Centres as donation for needy and under-privileged children who are being treated for cancer and their families, during the period of the child’s treatment.

On this occasion Mr. Leo Puri, Managing Director, UTI AMC said,” We are happy to partner with St.Jude India ChildCare Centres in this new philanthropy oriented initiative which will help the under-privileged children  who are being treated for cancer.”CanServe” will provide a platform to investors to contribute towards cancer care.”

Ms Usha Banerji, CEO, St.Jude India ChildCare Centres said, “We are happy that UTI, one of the most respected organisations in the Indian financial world, has made common cause with us. This is an opportunity for their investors to make a difference to needy children with cancer and give them a fighting chance to overcome the disease.”

Salient Features of “CanServe”:

A)  ‘CanServe’ facility under Dividend Payout  Option: Under the Dividend payout option, Investors by opting for  ‘CanServe’ Option can donate the dividend payout to be declared on a prospective basis. The investors will have a choice to donate either i) 50% of the dividend declared or ii) 100% of the dividend declared, in future subject to a minimum amount of donation of Rs.1000/-.

B)   ‘CanServe’ facility under Growth option: Under the Growth option, Investors by opting for ‘CanServe’ facility can contribute by indicating a specified amount (Minimum Rs. 1000/- at each half yearly payout ) to be paid out under this facility by redeeming corresponding units on semi – annual basis.

Source: Sachin Murdeshwar