Archive for July 3rd, 2007
SBI Mutual Fund’s technology fund – the SBI Magnum Sector Umbrella IT Fund has announced a dividend of 50% (i.e Rs. 5 on the face value of Rs. 10/- per unit) for the Dividend option of the fund. July 4, 2007 will be take as the record date for the dividend.
The scheme is an open ended growth scheme. The objective of the scheme is to seek and provide maximum growth opportunities through investments in IT stocks. Popular as Magnum IT, the scheme is managed by Jayesh Shroff since October 2006.
The scheme is one of the hottest schemes in IT sectorial-oriented mutual funds and competes head-on with DSPML Technology.com, ICICI Prudential Technology, UTI Software, Kotak Tech amongst others.
July 3rd, 2007
Unit holders of Tata Life Sciences and Technology Fund Dividend option will receive a dividend of 50% (i.e Rs. 5 on the face value of Rs. 10/- per unit). July 6, 2007 will be taken as the record date for the dividend.
Tata Life Sciences and Technology Fund’s investment objective is to provide income distribution and /or medium to long term capital gains while at all times emphasizing the importance of capital appreciation.
The fund came up in June 7, 1999 and is re-opened for continuous purchase since July 4, 1999. It may be recalled the fund has changed the load structure recently.
Seems Tata Life Sciences and Technology is aggressive in regard to dividends. This is the third dividend announcement during the year, the earlier being in May 2007 which gave 25% (Rs. 2.5 per unit of a face value of Rs. 10)
July 3rd, 2007
Starting July 2, 2007, investors in the Reliance Tax Saver, an ELSS open ended equity linked savings scheme will not carry the personal death insurance cover, as per an amendment released by Reliance Mutual Fund.
The scheme’s objective is to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity-related instruments. The scheme invests 80-100% in Equity and Equity-related securities and the remaining upto 20% in Debt and Money Market Instruments. The scheme opened in September 2005.
A maiden dividend of Rs. 1 per unit in this scheme is announced on February 21, 2007.
Reliance Tax Saver has given a 1-year return of 46.10% with an expense ratio of 1.93% (as of June 30, 2007) and is one amongst the top tax savings mutual funds.
July 3rd, 2007
Next Posts