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Investment World
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Mutual Funds
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Fund Watch
SBI Magnum declares 30pc dividend
SBI has declared a dividend of 30 per cent for SBI Magnum Pharma Fund. The record date for the purpose of dividend is September 3.
Tata Mutual Fund has proposed a dividend for Tata Equity Opportunities Fund and Tata Growth Fund; the record dates for the dividend payout are September 7 and 14 respectively.
Prudential ICICI has launched a Long Term Floating Rate Plan, an open-ended debt fund. The fund will invest between 65 and 100 per cent in floating rate debt instruments and the rest, if any, in fixed rate debt instruments.
The fund offers three plans — Plan A, Plan B, Plan C — with dividend options under each. The minimum application amount will be Rs 25,000, Rs 1 crore and Rs 5 crore for plans A, B and C respectively. The offer closes on September 4.
Principal Mutual Fund has launched Principal Floating Rate Fund. The fund will invest in floating rate debt instruments, fixed rate instruments swapped for floating rate instruments and fixed rate instruments.
The fund offers two plans-Short Maturity Plan and Flexible Maturity Plan, with regular and institutional options under each. The initial offer closes on September 6, 2004.
HDFC Mutual Fund has launched HDFC Core & Satellite Fund and HDFC Multiple Yield Fund. The initial offer for both the funds closes on September 10.
Kotak Mahindra Mutual has on a prospective basis, waived the entry load for investments switched from Kotak Equity Fund of Funds into Kotak 30, Kotak Tech, Kotak MNC, Kotak Global India, Kotak Opportunities and Kotak Balance. This is effective August 23, 2004.
Tata Mutual Fund is to launch Tata Dividend Yield Fund. A draft prospectus has been filed with SEBI. The fund will focus on high dividend yield stocks. The fund will offer dividend and growth options.
Kotak Mahindra Mutual Fund has renamed Kotak Floater as Kotak Floater Short Term Scheme.
BL Research Bureau
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