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PRUDENTIAL ICICI has proposed to change the expense structure for the PruICICI Dynamic Plan. The revised recurring expense limit would be as permitted by the SEBI regulatory framework. Now it is 2 per cent. The change will be effective February 1 2004.

As this is a change in the fundamental attribute of the fund, investors would have an option to exit at NAV till January 31 2004. The revises expense structure may be higher. But investors need to sell their holdings for this reason.

PruICICI loads: Prudential ICICI Mutual has altered the entry load structure for its equity funds namely, PruICICI Growth, Power, Dynamic, Tax Plan, Technology, FMCG as well as balanced funds.

There will be an entry load of 3 per cent for amounts less than Rs 3 crore. There is no entry load for investments beyond this threshold. There will no exit load. These changes will take effect from January 1.

Templeton dividends: Franklin Templeton Investments has announced a dividend of 0.79 per cent for the Monthly Dividend Plan and 2.25 per cent for the Quarterly Dividend Option of Templeton India Income Builder Account.

A bonus in the ratio of 4:1000 has been announced under the Bonus Plan.

For the Dividend Option of the Institutional Plan, a dividend of 2.25 per cent has been announced. Investors as of December 29, 2003 are eligible for the dividend.

A 2 per cent dividend has been proposed for the Dividend Plan of Templeton India Income Fund. Dividends of 1 per cent and 3 per cent respectively have been announced for the Monthly Dividend Plan and Quarterly Dividend Plan of FT India Monthly Income Plan.

A bonus in the ratio of 8:1000 has been announced for the bonus option. For the Templeton Floating Rate Income Fund, a dividend of 1 per cent has been declared for the Long-Term Plan Dividend Option. Investors as of December 29 are eligible for the divided.

For Templeton Monthly Income Plan, dividends of 0.44 per cent and 1.25 per cent have been declared for the Monthly Dividend and Quarterly Dividend Plans, Investors as of December 26 are entitled to receive the dividend.

Magnum Equity: SBI Mutual has announced a 20 per cent dividend for the Magnum Equity Fund. The record date was December 29. This is the second dividend declared by the scheme in the last three months. The scheme had declared a 14 per cent dividend in the month of October 2003.

The fund has also declared a dividend of 20 per cent for Multiplier Plus Scheme 1993. The record date for the same is January 19. Investors in the Magnum Equity Fund as of December 31 are entitled to a dividend of 15 per cent.

Candiversified dividend: Canbank Mutual has announced a dividend of 25 per cent for the Canequity Diversified Fund. The fund was launched in August 2003. Investors as of December 26 will receive the dividend.

UTI dividends: UTI Mutual has announced a dividend of 0.7 per cent for the Income Option of its Monthly Income Scheme (it was earlier known as the UTI Regular Income Scheme). A 40 per cent dividend has been proposed for UTI Equity Tax Savings Plan. Investors as of January 20 2004 will receive the dividend.

UTI Bond Fund' investors as of December 29 will receive a dividend of 1.5 per cent for the October-December quarter.

Tata MF dividend: Tata Mutual has fixed January 7 and January 16 as the record date for dividend eligibility in Tata Pure Equity Fund and Tata Equity Opportunities Fund.

Chola loads: Cholamandalam Mutual has altered the load structure for four of its schemes. For Chola Growth Fund and Chola Opportunity Fund, the entry load is 2 per cent for investments up to Rs 10 lakh, and 1 per cent between Rs 10 and Rs 15 lakh. There is no entry load beyond this level. There is no exit load.

The revised Contingent Deferred Sales Charge for Chola Monthly Income Plan and Chola Triple Ace will be 0.5 per cent for investments that are redeemed within six months from date of investment if the amount is less than Rs 10 lakh. There will be no load if the investment exceeds this limit.

BL Research Bureau

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