The Hindu Business Line : Kotak launches Twin Advantage Fund

Kotak Mutual has launched Kotak Twin Advantage Fund (Series II). This is a close-end debt fund, which will invest between 75 and 100 per cent in debt and money market securities. It has the flexibility to deploy up to 25 per cent in equity index options.

The fund aims to generate regular income and capital appreciation with such an investment profile. The fund will close for subscription on May 10. There is no exit load.

Standard Chartered Mutual has launched Standard Chartered Enterprise Equity Fund. This is a close-end fund with tenure of three years. It will invest in initial public offerings of companies during this period. The initial offer period for this NFO will be between April 19 and May 16. The minimum investment is Rs 5,000. There will be no load for investments in the NFO period.

Principal PNB Mutual has declared a dividend of 15 per cent for Principal Dividend Yield Fund. The record date for the dividend is April 24, 2006. The last dividend declared by the fund was 7.5 percent in October last year.

Prudential ICICI Mutual has fixed April 27 as the record date for payment of dividend to those invested in the Dividend Option of Prudential ICICI Dynamic Plan. The fund has declared a dividend of 20 per cent .

Prudential ICICI Mutual has altered the load structure for Prudential ICICI Emerging S.T.A.R. (Stock Targeted at Returns) Fund. The exit load for new investments of less than Rs 5 crore will be 0.5 per cent of the NAV if the sum is redeemed in less than six months from the date of allotment. There is no exit load if redemption takes place after six months.

Optimix Mutual has collected about Rs 250 crore in Optimix Income Growth Multimanager Fund. This is a fund-of-funds product, which will invest in equity, debt and liquid funds of various fund houses. Optimix is a fund-of-funds house owned by ING Vysya Mutual.

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