The Hindu Business Line : Update

UTI Wealth Builder Fund-Series II has declared tax-free dividend of 8 per cent. The record date for the dividend is May 27. All unit holders registered under the dividend option of the scheme as on May 27 will be eligible for this dividend. Also eligible are investors who join the dividend option of the scheme on or before the record date.

Birla Sun Life Mutual Fund is planning to introduce ‘Trigger Facility’ in the growth option of Birla Sun Life Frontline Equity Fund. Under this facility the investor can choose a specific percentage of target returns and on the achievement of the return, the gain or the fund value can be switched to the growth option of the debt scheme selected by the investor from the given options. The trigger levels can be opted at 15, 30, 50 or 100 per cent. This facility would be available for investors from May 22.

ICICI Prudential Equity & Derivatives Fund Income Optimiser Plan will be re-opened for subscription, additional purchases and switch-ins from May 19. It is an open-ended equity fund with an investment objective to generate low volatility returns by using arbitrage and other derivative strategies in equity markets and investments in short-term debt portfolio.

Franklin Templeton Investments (India) Mutual fund has declared tax free dividend under the dividend option of Franklin Templeton India Balanced Fund. The dividend declared under the scheme is Rs 2 per unit on the face value of Rs 10. The record date for declaration of dividend will be May27.

Benchmark Mutual Fund has introduced the facility of STP (Systematic Transfer Plan) for Benchmark Derivative Fund and Benchmark Equity and Derivatives Opportunities Fund. This facility will enable the unit holders to transfer fixed amount periodically from their existing scheme to other schemes of the fund by redeeming units at the applicable NAV subject to the exit load.

The unit-holder under this facility will be allowed to transfer a minimum amount of Rs 1,000 on a monthly basis on 1st and 15th of each month. This facility will not be available for the exchange traded funds. The facility will be in effect from May 20.

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