The Hindu Business Line : Update

Reliance Mutual Fund has announced a 75 per cent dividend under Reliance Growth Fund. Record date for the same is March 12. The fund had declared a 25 per cent dividend in October 2006.

JM Financial Mutual Fund has launched JM Small & Mid-cap Fund. The objective of the scheme is to provide capital appreciation by primarily investing in small- and mid-cap stocks. The company has defined the market cap segment for the small and mid-cap stocks that it seeks to invest. The fund will invest 65-100 per cent in equity and equity-related instruments, 0-35 per cent in money market instruments and debt securities. Investment in small- and mid-cap stocks will be in the range of 20-40 per cent and in 20-80 per cent respectively.

The fund has growth and dividend options, with dividend payout, reinvestment and dividend transfer facilities. The minimum one-time investment is Rs 5,000.The fund charges an entry load of 2.25 per cent for investment below Rs 5 crore. If redeemed within six months, it will charge an exit load of 1 per cent. The NFO opened on March 9 and closes on April 7.

PruICICI Mutual has replaced Reliance Mutual as the fund-house with largest assets under management for the month ended February 2007. UTI Mutual Fund, HDFC Mutual Fund and Franklin Templeton Mutual Fund follow the above two in that order.

ABN AMRO Asset Management (India) announced the launch of ABN AMRO Sustainable Development Fund. The fund will choose its stocks from S&P CNX 500 companies filtered by CRISIL based on environmental, social and corporate governance. The new fund offer opened for subscription on March 5 and closes on March 30.The scheme offers growth and dividend options.

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