JM Basic Fund announces 36% dividend
January 14th, 2008
JM Basic Fund from the JM Financial Mutual Fund has recently announced a dividend of 36% (I.e Rs. 3.60 per unit on the face value of Rs. 10). The Record Date for this is January 11, 2008. The earlier dividend is 45% in September 2007
The scheme is heavily into stocks in Construction, Metals & Metal Products and Basic/Engineering sectors, all of which has zommed and shown remarkable jumps in stock prices in the last one year or so.
Top holdings include Sintex Industries, PSL, Bharati Shipyard, Hindustan Construction Co. and Maharashtra Seamless.
The objective of the fund is “The scheme aims to invest in energy and petrochemical sector. It shall have the mandate to invest in Oil & Gas, Petrochemicals, Power Generation & Distribution, and Electrical Equipment Suppliers”. The NAV is at Rs. 29.1413 as of November 11, 2008.
Entry Filed under: Mutual Funds, Dividend Announcements, JM Financial MF
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