The Hindu Business Line : Update

SBI Mutual Fund has announced a dividend of 50 per cent and 40 per cent under Magnum Equity and Magnum Balanced Fund respectively. The record date for both the schemes is November 7.

UTI Mastershare has declared a dividend of 35 per cent (Rs 3.50 per unit on a face value of Rs 10). The record date is November 7.

Principal Mutual Fund has announced dividend under Principal Balanced Fund and Principal Income Fund – Institutional Plan. A dividend of 60 per cent has been declared under the former, while Rs .05 per unit under the latter. The record date for both the dividend payout is November 5.

HDFC Mutual Fund has announced the appointment of Mr Prashant Jain as Executive Director of the company. Henceforth, he will be E.D and Chief Investment Officer of HDFC Mutual Fund.

Kotak Mahindra Mutual Fund has revised the entry load on Kotak PSU Exchange Traded Fund with effect from October 29,2007.The fund will now charge an entry load of 1 per cent for investment less than Rs 1 crore and no entry load for the investment above Rs 1 crore.

UTI Mutual Fund has joined hands with Standard Chartered Bank for accepting New Fund Offer application in Dubai. For the first time Non-Resident individual in Dubai can invest in UTI MF NFOs using dirham cheques through Standard Chartered Bank UAE.

For accepting NFO application from non-resident individuals, the bank has initially identified its branches at Deira and Mankhool Road in Dubai.

Regular and Institutional plan of UTI Fixed Maturity Plan August 2007 Quarterly Series 1 has announced a dividend of 100 per cent. The record date is November 6.

HDFC Mutual Fund has announced dividend under HDFC Quarterly Interval Fund –Plan C. The fund plans to distribute entire appreciation in the NAV as dividend. The record date is November 8.

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