The Hindu Business Line : Tata Mutual launches floating rate fund

RELIANCE Capital Mutual has announced a dividend of 60 per cent for the Reliance Growth Fund (Dividend Option), payable to investors as of December 18, 2003.

DSP Merrill Lynch Investment Managers has declared a dividend of 40 per cent for DSP Merrill Lynch Equity Fund for investors as of December 19, 2003.

IL&FS Mutual has announced a dividend of 15 per cent for the Dynamic Equity Fund, payable to investors as of December 22, 2003. The fund was launched in August this year.

Tata Mutual has announced a dividend of 12 per cent for the Tata Equity Opportunities Fund. Investors as of December 18 will receive the dividend.

Escorts Mutual Fund has declared a dividend of 80 per cent for Escorts Growth Plan. Investors as of December 29 are eligible for the dividend.

The Managing Director of Prudential ICICI Mutual, Mr Shailendra Bhandari, has quit the fund and is joining Centurion Bank as CEO.

Birla Mutual has fixed December 24 and December 26 as record dates for dividend eligibility for Birla Mid-Cap Fund and Birla Dividend Yield Plus respectively.

The designated days for payment of dividend in Birla Bond Plus will be the second and fourth Saturdays of each month. The change is effective from this month according to Birla SunLife Mutual, which operates the fund.

IL&FS Global India Fund is the new name for IL&FS e-com Fund, which focussed on the technology sector. IL&FS Mutual has indicated that investors have the option of redeeming their units at NAV as this is a change in the fundamental attributes of the fund.

When the changes take effect on January 12 next year, the fund will invest in companies that have the potential to emerge as global players in their respective businesses.

Tata Mutual has launched a floating rate fund. The initial offering period was on December 22. The fund opens for subscription on an ongoing basis for sale and repurchase from December 29. The minimum investment is Rs 10,000.

BL Research Bureau

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