IDBI Mutual Fund has announced the launch of IDBI Short Term Bond Fund, an open-ended debt scheme. The investment objective of the scheme will be to provide investors with regular income for their investment. The scheme will endeavour to achieve this objective by investing in a diversified portfolio of debt and money market instruments. An exit load of 0.5 per cent will be charged if the units are redeemed within 3 months from the date of allotment. The performance of the fund will be benchmarked against Crisil Short Term Bond Fund Index. The NFO price for the scheme is Rs 10 per unit. The issue will be open for subscription till March 22.

HDFC Mutual Fund has declared dividend under HDFC Equity Fund and HDFC Long Term Equity Fund. The quantum of dividend for distribution is Rs 4 per unit (face value Rs 10 per unit). The record date for dividend distribution is March 22.

IDFC Mutual Fund has declared dividend under IDFC Tax Advantage (ELSS) Fund. The quantum of dividend for distribution is Re 1 per unit. The record date is March 23.

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