Financial Daily from THE HINDU group of publications
Wednesday, Nov 10, 2004
Financial Daily from THE HINDU group of publications Wednesday, Nov 10, 2004 |
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Markets
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Mutual Funds Tata Mutual's Dividend Yield mops up Rs 417 cr Our Bureau
Mumbai , Nov. 9 TATA Mutual Fund on Tuesday announced that the initial public offerings of the Tata Dividend Yield Fund mopped up Rs 417 crore. Tata Dividend Yield Fund is an open-ended equity scheme, which aims to invest at least 70 per cent of its net assets in shares with dividend yields higher than that of BSE Sensex at the time of investment, according to its offer document. The initial issue period for the scheme took place from September 28 to October 27. The Tata Dividend Yield Fund aims at maximising returns by continuing to focus on a stringent valuation criterion and fundamental parameters such as management and business competitiveness and growth prospects of companies, said a press release. Tata Dividend Yield Fund offers two options — Dividend option with minimum investment of Rs 5,000 and in multiples of Re 1 and Growth option with minimum investment of Rs 5,000 and in multiples of Re 1. There is no maximum limit for investment, the release said.
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