The Hindu Business Line : New scheme from Stanchart MF

LIC Mutual Fund has declared a dividend of 50 per cent for LIC MF Index Sensex Plan and 0.8 per cent for LIC MF Bond Fund. The record date has been fixed as January 9 and 10 for LIC MF Index Fund and Bond Fund respectively.

Standard Chartered Mutual Fund is set to launch a close-end equity fund with a duration of 18 months. Christened Standard Chartered Enterprise Equity Fund, the fund will invest in shares available through the primary market route.

UTI Mutual has launched a new equity-oriented scheme, UTI-Leadership Equity Fund. The fund will invest 65 per cent of assets in leading companies in various sectors and the rest in companies that are potential leaders. The new fund offer is open from January 9 to 30.

ING Mutual is coming out with a multi-manager open-end hybrid fund of funds scheme. Named Optimix, this fund of fund will track fund managers following the Optimix Multi Manager investment process.

The emphasis will be on fund managers as schemes managed by high-profile fund managers, who have past record of giving high returns, are preferred, as per the Optimix investment principle. According to ING, multi-manager funds are the fastest growing segment worldwide the past year.

Principal PNB Asset Management Company had tied up with Vijaya Bank to lauch a new fund scheme " Principal Infrastructure & Services Industries Fund". The fund has two investment options- growth and dividend. The minimum amount under both the options is Rs 5,000. Investment under the systematic investment route entails a minimum investment of Rs 1,000.

JM Mutual Fund has fixed January 12, 2006 as record date for dividend declaration under JM Healthcare Sector Fund. This will be the fund's second dividend payout since its launch. It had earlier declared a dividend of 10 per cent in January 2005.

UTI Bank's customers can buy and sell units of UTI Mutual Fund through the bank's nationwide ATM network. The service will enable UTI Bank customers to buy and sell UTI Mutual Fund schemes instantly and make payment instructions through the ATM.

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