Sun F&C Mutual Fund and Pioneer ITI Mutual fund have declared monthly dividends in their respective Monthly Income Plans (MIP). While Sun F&C MIP has declared a dividend of 0.80 per cent (Rs 0.08 per unit), Pioneer ITI MIP 's payout is pegged at 0.75 per cent (Rs 0.075 per unit). The record date for income distribution under Sun F&C and Pioneer ITI MIPs was October 25, 2001 and October 23, 2001, respectively.
Pioneer ITI Mutual Fund has paid dividends in two debt funds: - Income Builder Account (IBA) and Treasury Management Account (TMA). The record date for the payouts was October 23, 2001. While Income Builder Account, a medium-term debt fund, paid a monthly dividend of 1 per cent (Rs 0.10 per unit), Treasury Management Account (TMA), a cash fund, paid a weekly dividend of 0.145 per cent (Rs 1.45 per unit on a face value of Rs.1000).
Escorts Mutual Fund has decided to convert its closed-ended debt fund - Escorts Income Bond into an open-end fund with effect from November 10, 2001.
Launched in October 1996 as a debt fund with marginal equity exposure, Escorts Income Bond offered to buyback units at a fixed price of Rs 11.60 after the first year of its launch. With an equity exposure almost close to the ceiling of 15 per cent, the fund has been a rather dismal performer with a negative return of 4.15 per cent.
The AMC has also declared a dividend of 0.85 per cent (Rs 0.085 per unit) in the open-ended medium term debt fund, Escorts Income Plan. The record date for the same was October 21, 2001. Launched in May 1998, the fund has paid an aggregate dividend of 36.5 per cent spread over twenty-five monthly payouts.
Kotak and Alliance Capital have paid weekly dividends in their cash funds - K-Liquid and Alliance Cash Manager. A dividend of 0.145 per cent (Rs 0.0145 per unit) was paid to K-Liquid unitholders, who were on record books as on October 22, 2001. Alliance Cash Manager made a payout of 0.128 per cent (Rs 1.28 per unit on the face value of Rs 1000) with a record date of October 24, 2001.
