LIC Mutual Fund has launched a liquid fund. The scheme's objective is to generate reasonable returns with low risk and high liquidity through judicious mix of investment in money market and debt instrument.The scheme IPO will be open from 11th March 2002 to 13th March 2002. No entry or exit load will charged at present.
Canbank Mutual Fund has declared the record date for the payment of dividend in its following schemes: In Cangilt PGS, the record date is March 27, 2002 and the books of the scheme will remain closed between March 28 and April 6, 2002. In Canpremium (Roll Over) and Cancigo, the record date for the payment of dividend is March 26, 2002. The books of both the schemes will be closed from March 27 to April 12, 2002.
Sundaram Bond Saver has announced a quarterly dividend of 5.5 per cent (Rs 5.5 per unit). The record date for the same is March 22, 2002.
HDFC Mutual Fund has announced March 18, 2002 as the record date for the payment of dividend in its Income Fund, Short-term and Long-term Plan of Gilt Fund and Tax Plan 2000.
In order to make the most of the available opportunity of tax-free dividends upto March 31, 2002, IL&FS Mutual Fund has introduced an Annual Dividend Plan in its Bond Fund.
The record date for the first dividend is March 22, 2002. The plan is carved out of the Growth Plan of the IL&FS Bond Fund. Thus the NAV of the plan will begin at the same level as that of the Growth Plan.
The Plan will be open for subscription from March 18, 2002. Entry into the fund is on a no-load basis but an exit load of 0.50 per cent will be charged for redemption amount Rs.10 lakhs (inclusive), if redeemed within 90 days (for investors entering the plan on or after March 18, 2002). For existing investor the minimum application amount is Rs. 5,000 and in multiples of Re.1 thereafter and for new investor it is Rs.1,000 and in multiples of Re.1 thereafter.
