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Sunday, Jan 09, 2005

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Tata Balanced Fund fetches 30 pc dividend

  • Tata Mutual has declared a dividend of 30 per cent for the Dividend Plan of Tata Balanced Fund. The record date is January 12.

  • Chola Mutual has announced a dividend of 10 per cent for Chola Mid-Cap Fund. The record date is January 24.

  • Kotak Mahindra Mutual is the latest to latch on to the mid-cap stocks theme. It has launched Kotak Mid-Cap Fund. The fund will adopt a stock-specific approach rather a sector-based one. Up to 95 per cent of assets would be invested in mid-cap stocks. The initial offering period ends on January 28.

  • Sundaram Mutual has launched a fund that will invest in small-cap and mid-cap stocks. Christened Sundaram Small and Medium Indian Leading Equities' (SMILE) Fund, the target corpus is Rs 200 crore during the initial offering period.

  • The Securities and Exchange Board of India (SEBI) has extended to January 31 the deadline for funds to adhere to the minimum number of investors.

    All funds have to ensure that they have between 20 and 25 investors by the end of this month.

  • Principal PNB Mutual has entered into an arrangement with Union Bank of India for the distribution of its products by the latter. This will provide Principal PNB access to 2,200 branches of the bank.

  • ING Vysya Mutual plans to launch fixed maturity funds which are close-ended in nature and have 450 days maturity.

    The fund is open between January 24 and January 29.

    There is no entry or exit load. The minimum amount is Rs 2,000 and the fund will be redeemed at the end of the maturity period.

    ING Vysya has filed the offer document with SEBI for approval.

    BL Research Bureau

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