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S. Vaidya Nathan

SEBI has made some changes in the disclosures in advertisements. Advertisements will carry a statement as it does now on "mutual fund investments are subject to market risk, read the offer document carefully before investing". SEBI has now required that this should be displayed in block letters with at least 8 inches background.

The display should be on a white background and cover at least 10 per cent of the display area. The compliance officers of the fund must ensure that the statement appears in a legible font in the advertisement. In audiovisual displays, the message must be displayed for at least two seconds and in a legible font size. The display must cover at least 80 per cent of the screen space. There must also be a voice-over reiteration.

Sundaram Mid-Cap dividend: Sundaram Mutual Fund has announced a dividend of 25 per cent (Rs 2.5 per unit) for the Sundaram Mid-Cap Fund. The record date for the dividend is June 27, 2003. The fund has turned in returns of about 30 per cent since its launch in July 2002.

UTI RIS dividend: UTI Mutual Fund has announced a dividend of 0.55 per cent (Rs 0.055 per unit) for the UTI Regular Income Scheme. Investors who have opted for the dividend option will be entitled to the payment. The record date is June 30 2003. The dividend payment is for June. For the preceding two months, a similar dividend had been paid by the fund. UTI RIS was launched in September 2002.

UTI CRTS dividend: UTI Mutual Fund has declared a dividend of 2 per cent for UTI - Unit Scheme for Charitable and Religious Trusts and Registered Societies (UTI-CRTS) scheme. The dividend is Rs 2 per unit on a face value of Rs 100 per unit. The record date for the dividend is June 30 2003. The fund has an asset base of Rs 384 crore.

UTI Mastervalue: UTI Mutual Fund has announced a dividend of 10 per cent (Rs 1 per unit on a face value of Rs 10 per unit). The record date is July 7.

Templeton dividend: Franklin Templeton Mutual Fund has announced dividends of 0.79 per cent (Rs 0.079 per unit of face value of Rs 10) has been declared under the Monthly Dividend Plan and 2.48 per cent (Rs 0.248 per unit of face value of Rs 10) has been declared under the Quarterly Dividend Plan.

A bonus ratio of 4:1000 has been announced under the Bonus Plan. All investments in the respective options as on June 27, 2003 were eligible for the dividend/bonus and the ex-dividend/ex-bonus date is June 30.

For FT India Monthly Income Plan, a dividend of 0.79 per cent (Rs 0.079 per unit of face value of Rs10) has been declared under the Monthly Dividend Plan and 2.48 per cent (Rs.0.248 per unit of face value of Rs10) has been declared under the Quarterly Dividend Plan. A bonus ratio of 6:1000 has been announced under the Bonus Plan. All investments in the respective options as on June 27 were eligible for the dividend/bonus.

Franklin Templeton Mutual Fund has declared a dividend of 0.44 per cent for the Monthly Dividend Option of the Templeton India Monthly Income Plan. The dividend is for a 33-day period. The record date for the dividend is June 25.

Reliance gilt scheme: Reliance Capital Mutual Fund has launched the Reliance Gilt Securities Fund. This open-end fund is open for subscription between June 27, 2002 and July 4, 2003. The fund has indicated an expense of 0.8 per cent of net assets and at active management of yield curve and interest rate risk.

Chola Growth dividend: Cholamandalam Mutual Fund has altered the frequency for dividend from a half yearly basis to a quarterly basis. The eligible date for the dividend would be June 27, September 27, December 27 and March 27.

Benchmark's new fund: Benchmark Mutual Fund is to launch an exchange-traded fund called the Liquid BeES. The fund will invest in money market instruments.

The fund will be listed and traded in the Capital Market Segment and will be settled in rolling settlement on T+2 basis. Dividend will be paid to investors once in a month in the form of units. The minimum subscription amount is Rs 25,000 and minimum redemption is 2500 units.

US-64 bonds trading: Trading in the government bond issued to US-64 investors started from June 16 on the National Stock Exchange. The bond has a fixed value of Rs 100.

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