The Hindu Business Line : DSP Merrill launches TIGER fund

DSP Merrill Lynch is launching T.I.G.E.R (The Infrastructure Growth and Economic Reforms) fund. The diversified equity fund would focus on sectors and companies that would benefit from ongoing economic reforms and infrastructure growth. It is also launching variants of its Savings Plus fund. The variants are "conservative" with 10 per cent equity and "aggressive" with 30 per cent equity component. The initial offers are open from April 27 to May 20. The minimum investment amount is Rs 1,000.

Morgan Stanley Growth Fund has declared a dividend of 15 per cent. The record date for the dividend payout is May 13. Morgan Stanley Growth Fund is a close-ended equity scheme and the investment objective of the fund is to attain long-term capital appreciation.

ING Vysya Mutual Fund has declared maiden dividend for its MIP (monthly income plan) funds under both Plan A and Plan B. The net dividend per unit (in per cent) is 7.18 under Plan A and 4.04 under Plan B. The record date is April 27.

UTI Mutual Fund has declared a dividend of 2 per cent in UTI Charitable and Religious Trusts and Registered Societies (UTI-CRTS). The record date for the purpose of dividend payout is May 3. UTI-CRTS is a debt-oriented, open-ended income scheme and caters to the investment needs of Charitable, Religious and Educational Trust as well as Registered Societies.

Reliance Capital Mutual Fund has been able to mop up over Rs 415-crore in Reliance Diversified Power Sector Fund, an open-ended power sector scheme that invests in equity/equity-related or fixed-income securities of power and power-sector associated companies. The initial offer of the fund opened on March 29 and closed on April 15. The minimum application amount was Rs 10,000.

BL Research Bureau

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