ING Mutual Fund today declared a 20 per cent dividend under its open-ended equity scheme ING CUB Fund.
The record date for dividend of this scheme is October 9, the company said in a statement here.
"Our focused approach of being invested in predominantly mid-and-small capitalisation companies over the last 3-years has resulted in capital appreciation for our investors which we would like to pay out as dividend," ING Investment Management's vice-president and Portfolio Manager Equity, Manish Bhandari, said.
ING CUB Fund is an equity scheme, seeking to provide long-term capital appreciation by investing pre-dominantly in a diversified portfolio of equity and equity-related securities of companies of small market capitalisation.
The Net Asset Value (NAV) of the fund as on September 30 was Rs 14.39.