The Hindu Business Line : A new scheme from Tata MF

UTI Mutual Fund has declared a dividend of 25 per cent on UTI Mastershare. The record date is October 20. The last dividend declared by the fund was in September 2004.

HDFC Mutual has identified October 13 as the record date for dividend, if any, declared under the dividend option of HDFC Multiple Yield Fund.

Tata Mutual has launched Tata Contra Fund. The fund will invest 70 per cent of its assets in equities, following a contrarian approach. Stocks will be selected from sectors such as oil refining and marketing, fertilisers and pharmaceuticals, where short-term negatives overshadow long-term fundamentals.

The fund offers dividend and growth options. The minimum investment amount is Rs 5,000. The offer closes on October 25.

Kotak Mutual has launched Kotak ELSS, an open-ended tax-saving fund. The new fund offer closes on October 25.

Franklin Templeton Mutual has revised the entry load of Templeton India Children's Asset Plan. An entry load of 1 per cent and 1.50 per cent will be levied on the Education Plan and Gift Plan respectively, effective October 5.

Birla Sun Life Mutual has revised the entry load for its Birla GenNext fund. Purchases/switch in from funds other than equity funds that is less than Rs 2 crore will attract an entry load of 2.25 per cent.

For investments between Rs 2 crore and Rs 5 crore a load of 0.5 per cent will be applicable. For purchases above Rs 5 crore, the entry load is waived.

HDFC Mutual has imposed an exit load of one per cent if units of HDFC Prudence are redeemed within one year from the date of allotment. The load is effective from October 3 and is applicable on a prospective basis.

SBI Mutual has mobilised about Rs 2,100 crore from the new fund offer of SBI Magnum MultiCap Fund.

Fidelity plans to launch a tax-saving fund. This will be its first fund after Fidelity Equity Fund, which was launched a few months ago.

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