The Hindu Business Line : Update

Kotak Mahindra Mutual Fund has declared a 40 per cent dividend (Rs 4 per unit on a face value of Rs 10) under its dividend option in Kotak Balance. The record date is March 25.

Principal Mutual Fund has declared a dividend of 25 per cent in Principal Balanced Fund. Record date for dividend is March 24.

HSBC Mutual Fund has announced a 10 per cent and a 7.5 per cent dividend in HSBC India Opportunities and HSBC Midcap Equity Fund respectively.

The fund has also declared dividend under HSBC Interval Fund Plan –I and Plan II (for both regular and institutional plans).

The quantum of dividend would be 100 per cent of the distributable surplus the fund would have on record date.

The record date for the payout would be March 24.

Birla Sunlife Mutual Fund has announced a dividend of 10 per cent under its Birla Infrastructure Fund. The record date for the same is March 24.

The Securities and Exchange Board of India (SEBI) has asked mutual fund houses not to charge any entry and exit load on both bonus units and units that get allotted to investors on reinvestment of dividends.

This will come into effect from April 1, 2008 only.

Currently, when an investor opts for dividend reinvestment the dividend declared in ploughed back in the form of additional units. These units are charged an entry load similar to that of purchase.

Similarly, earnings from a scheme are also distributed as bonus units, which also suffer entry load.

Any redemption of the above was also charged an exit load. The above additional units will henceforth not suffer any such charges.

HDFC Infrastructure Fund has made its debut at Rs 9.15 per unit as against a face value of Rs 10 per unit.

Standard Chartered Small and Midcap Equity Fund marked its entry at Rs 9.67 per unit against a face value of Rs 10.

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