Financial Daily from THE HINDU group of publications
Thursday, Dec 22, 2005
Financial Daily from THE HINDU group of publications Thursday, Dec 22, 2005 |
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Markets
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Mutual Funds 20% income distribution by CanEmerging Equities Our Bureau
Kochi , Dec 21 CANBANK Mutual Fund has declared an income distribution of 20 per cent for its CanEmerging Equities Scheme, an open-ended equity scheme which has a face value of Rs 10. This is the maiden dividend declared by the scheme since its launch in February 2005. The investment objective of the scheme is to generate capital appreciation by primarily investing in diversified mid-cap stocks, a press release from Canbank Mutual Fund has said. The record date for the income distribution has been fixed as January 13. All the unit holders whose names appear on the register on the record date will be eligible for this income distribution. The NAV of the scheme under the income plan is Rs 12.90 as on December 12 and after the payout and income distribution, the NAV is expected to fall to the extent of the payout.
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