The Hindu Business Line : Update

Reliance Mutual Fund has announced dividends of 25 per cent each under the dividend options of two of its schemes- Reliance NRI Equity Fund and Reliance Media and Entertainment Fund. The record date for the both the dividends is January 29.

SBI Mutual Fund has announced a maiden dividend of 20 per cent under Magnum Multicap Fund. The record date is January 29.

Tata Mutual Fund has launched its SIP Fund Scheme-I. The new fund is a 36-month, close-ended hybrid scheme. It aims to achieve long-term growth by investing systematically in equity and equity-related instruments and debt instruments. The fund offers both dividend and growth options and is open for subscription till February 15. Unlike the SIPs offered by equity funds; an investor would be making a one-time investment in this fund. Those investing in this fund would have an option to either redeem the units on maturity or switch to Tata Pure Equity Fund with no entry loads.

Principal PNB asset management has launched the Principal PNB Long Term Equity Three-year Plan Series I. The fund aims to invest predominantly in mid and small-cap companies. The scheme defines mid-cap stocks as those with a market capitalisation of less than Rs 3,500 crore on the date of investment. Small-cap stocks have been classified as companies with a market cap of less than Rs 600 crore. The fund will become open-ended at the end of the three-year tenure.

The scheme provides for repurchase of units with a half-yearly frequency during the first five business days of the redemption month. Being a close-ended scheme, during the NFO period there are no entry and exit loads but upon redemption before the maturity period, investors will have to bear proportionate unamortised expenses.

More Stories on : Mutual Funds | Dividend Announcement

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page