Mutual Funds News - 03 May 2008

03 May 2008 | 09:06 UTI MF declares dividend for Dividend Yield fund

The UTI mutual fund has announced the declaration of dividend under dividend option of UTI Dividend Yield Fund. The record date for dividend will be 9 May 2008. The quantum of dividend is 7% i.e. Rs. 0.70 per unit on the face value of Rs. 10. The NAV of the scheme was recorded at Rs 12.88 as on 30 April 2008.

UTI Dividend Yield Fund is open-ended equity fund with an aim to provide medium to long term capital gains and dividend distribution by investing predominantly equity and equity-related securities, which offer high dividend yield.

03 May 2008 | 09:17 Birla MF revises load structure

Birla Mutual Fund has revised the load structure of Birla Dynamic Bond Fund, an open-ended income scheme. With effect from 5 May 2008, the scheme charged an exit load of 2.00% of applicable NAV for units redeemed/switched out within 180 days from the date of allotment. Earlier the scheme will charge an exit load of 0.20% of applicable NAV for units redeemed/switched out within 30 days from the date of allotment.

However there is no change in entry load. As earlier the entry load in the scheme is nil.

The revised load structure will be applicable to all investments made on or after 5 May 2008.

Categories: News