The Hindu Business Line : Prudential ICICI Mutual declares Rs 2.50 as dividend

UTI Mutual Fund has declared a dividend of 2.4 per cent or Rs 2.42 per unit for its UTI Unit Schemes for Charitable and Religious Trusts and Registered Societies (UTI-CRTS) has declared a dividend of 2.4 per cent or Rs 2.4 per unit. The record date is December 28.

Tata Mutual Fund has declared a dividend of 30 per cent or Rs 3 per unit for its Tata Balanced Fund. The record date is January 12.

Canbank Mutual Fund has declared dividend of 30 per cent or Rs 3 per unit for its Canexpo Fund. The record date is January 20.

Birla Mutual Fund has reduced the minimum application amount for its Birla Floating Rate Fund to Rs 5,000, with effect from December 13.

SEBI regulations stipulate that funds should have a minimum of 20 investors and that no single investor should hold more than 25 per cent of the corpus of such funds. In pursuant to this regulation, a couple of fund houses have announced the winding up of a few of their funds.

Chola Mutual Fund is winding up the following plans, with effect from December 29: Chola FMP, Chola Liquid Fund-Institutional Dividend Payout and Series-April 2006 and Chola Gilt Fund-Gilt Savings.

Standard Chartered Mutual is winding up the following from December 31, 2004: Grindlays Super Saver Income Fund-Investment Plan-Plan B; Medium Term Plan-Plans B and C and Short term Plan - Plan C; Grindlays Dynamic Bond Fund-Plans C and D and Grindlays Government Securities Fund-Investment Plan-Plan B.

Kotak Mutual Fund is to launch a close-ended Fund of Funds Plan, Kotak Dynamic FOF-Flexi Cap. The Plan will invest in open-ended diversified equity funds and liquid funds.

BL Research Bureau

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Prudential ICICI Mutual declares Rs 2.50 as dividend