Alliance Capital's Alliance '95 has paid a dividend of 20 per cent (Rs 2 per unit) to unitholders, in the fund as on October 15, 2001. With the current payout, the aggregate dividend paid by the fund stands at 154 percent spreading over seven payouts. Launched in February '95, the fund has posted an annualized total return of 22.56 per cent on the back of equity-heavy portfolio.
IL&FS Mutual Fund has launched a 91-day Fixed Maturity Plan. The scheme, structured as a short-term plan of the IL&FS Liquid Account, aims to provide investors with predictable returns through investments in money market instruments of similar maturity.
The initial offer will be open from October 19, 2001 to October 30, 2001. While the fund does not charge an entry load, it levies an exit load if investments are redeemed before 91 days. The fund has also introduced a 'Switch' facility whereby investors can transfer investments to the new plan from any of the existing schemes of the fund.
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LIC Bond Fund, a medium term debt fund from LIC Mutual Fund, has introduced load slabs on redemption with effect from October 15, 2001. For amount up to Rs 50 lakh, an exit load of 0.50 percent will be charged if investments are redeemed within six months.
For amount above Rs 50 lakh, an exit load of 0.25 per cent will be charged if investments are withdrawn within three months. Previously, it charged a flat 0.50 per cent on redemption within six months, irrespective of the investment ticket.
Alliance Capital, HDFC and Kotak AMCs paid weekly dividends in their short-term debt funds. While Alliance Cash Manager paid a weekly dividend of 0.13 per cent (Rs 1.31 per unit with face value of Rs 1000) for the week ended October 17, 2001, HDFC Liquid made a payout of 0.1342 per cent(Rs 0.01342 per unit). K-Liquid paid 0.135 per cent (Rs 0.0135 per unit). The record date for dividends in K-Liquid and HDFC Liquid was October 15, 2001.
Tata Income Fund, a medium-term debt fund from Tata TD Waterhouse AMC has paid a monthly dividend of 0.80 percent (Rs 0.0736 per unit) to the unitholders, invested in the fund as on October 17, 2001.
In the current fiscal, the monthly dividend option has paid an aggregate dividend of 5.5 percent over seven monthly payouts. Launched in March '97, the growth option of Tata Income has returned an annualized 13.04 per cent since launch.