Unit Trust of India has announced dividends in three of its equity schemes:- Master Equity Plan '99 (MEP 99), Index Select Equity Fund and Master Growth. The record date for the same has been set as January 10, 2002. MEP 99, a close-ended equity tax-planning fund has announced a third dividend of 12 per cent (Rs 1.20 per unit). The current payout is 20 percent less than the earlier payouts.
Index Select Equity Fund, an actively managed Index fund will pay its second dividend of 12 percent in its more than four year tenure. Master Growth, an open-end diversified equity fund, will make a third payout of 11 percent (Rs 1.10 per unit) since it went open end in December 1999.
SBI Mutual Fund has launched an Index Fund: Magnum Index Fund. The fund will track the S&P CNX Nifty Index by investing in scrips in accordance with their weightage in the chosen benchmark.
The initial offer in the fund is open from December 18, 2001 to December 31, 2001. The fund would charge an initial load of 1%. It will reopen for continuous sale and repurchase from January 14, 2002. The minimum investment in the fund is Rs 1000. The entry load on the units subscribed after the initial offer period would also be 1%.
Zurich India Mutual Fund has introduced new dividend options in two of its debt funds namely, Zurich India High Interest Fund and Zurich India Liquidity Fund with effect from December 24, 2001. Zurich India High Interest Fund has introduced a half-yearly (option B) and an annual dividend option (option C) in addition to the existing quarterly dividend option (option A).
Unit-holders under the option A can switch over to options B and C between December 19 and December 24, 2001, at the applicable NAV of option A on first day and at the applicable NAV of options B and C, during the rest of the period. Zurich India Liquidity Fund has also introduced a Daily Dividend option (option A) in addition to the existing weekly dividend option (option B).
Existing unit-holders of option B can switch over to option A on December 24, 2001 at the applicable NAV of option B. All the three options will be open for new investors from December 26, 2001 onwards at their respective NAVs.
