The Hindu Business Line : 75 pc dividend under Canindex

Canbank Mutual Fund has declared a maiden dividend of 75 per cent on its Canindex scheme. The index-based scheme was launched in September 2004. The objective of the scheme is to generate income/capital appreciation by investing in select companies whose securities are included in the Nifty Index, a press release from the fund house said. The scheme carries an entry load of one per cent for investment less than Rs 10 lakh and there is no exit load. The minimum investment in the scheme is Rs 5,000. The record date for income distribution has been fixed as December 22 and all unit holders whose names appear on the register on the record date would be eligible for income distribution. The NAV of the scheme was Rs 21.16, which is likely to fall to the extent of the payout.

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