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Dividend in Birla Midcap Fund

December 25th, 2007

Birla Sun Life Mutual Fund announced a dividend for the Birla Midcap Fund. The dividend is 60% i.e Rs. 6 on the face value of Rs. 10 per unit. The record date for the dividend is December 28, 2007.

Birla Midcap Fund is an open ended fund launched in October 2002. The Year to Date returns till December 24, 2007 is 67.72 as agaist to the category average of 52.64. The fund’s NAV is at Rs. 38.86 and manages Net Assets of Rs. 659.13 Crores (as of November 30, 07).

The Scheme’s objectives are: The fund’s investment objective is long term growth of capital at controlled level of risk by investing primarily in ‘Mid-Cap’ Stocks. The level of risk is somewhat higher than a fund focused on large and liquid stocks. Concomitantly, the aim is to generate higher returns than a fund focused on large and liquid stocks.

Top Equity investments of the fund include Solar Explosives, Raymond, United Breweries, Bharat Bijlee and Jindal Steel & Power. The fund has a reasonable amount in diversified stocks followed by  Financial Services, Metals & Metal Products, Construction and Basic/Engineering.

The earlier dividends of the fund are:

December 22, 2006: Rs. 3.5
February 6 2006: Rs. 2

Entry Filed under: Mutual Funds, Birla Sun Life Mutual Fund, Dividend Announcements, Midcap Funds