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Fund Watch
UTI Mutual Fund
UTI Mutual Fund has announced a dividend of 100 per cent (Rs 10 per unit) for Master Equity Plan 1998, Master Equity Plan 1999 and Master Value Unit Plan. The NAVs of the funds are Rs 22.6, Rs 33.8 and Rs 31.1 respectively.
HSBC Mutual Fund has indicated its intent to declare a dividend for the HSBC Equity Fund as it completes a year. The record date is December 26. The dividend percentage is to be announced later.
Tata Mutual Fund has announced its second dividend for Tata Pure Equity Fund over the past three months.
The 25 per cent dividend paid out on September 30 has been followed up by a 15 per cent dividend payable to investors as of December 3, 2003.
HSBC Mutual plans to launch two funds: a monthly income plan and an equity fund, which will invest up to 50 per cent of assets in equities in bearish phases of the stock market. The fund is to file draft offer documents with SEBI.
Franklin Templeton has announced that the default option will be changed from dividend payout to dividend re-investment in the following funds: Templeton India Growth, Franklin India Growth, Franklin India Index, Franklin India Index Tax, Franklin India Balanced, Templeton India Income Fund, Templeton India Government Securities Fund, Templeton Floating Rate Income Fund, Templeton Monthly Income Plan and Templeton India Liquid Fund.
Reliance Mutual Fund is the latest to join the Monthly Income Plan (MIP) bandwagon. The initial offering period for the MIP would be between December 10 and 25.
The fund offers a dividend plan, a quarterly dividend plan and a growth plan and up to 20 per cent of assets may be invested in equities.
Deutsche Mutual Fund is to launch Deutsche Fortune Fund, which will have the BSE 200 as the benchmark. This is the second equity fund after Deutsche Alpha Equity Fund, which tracks the S&P CNX Nifty Index.
BL Research Bureau
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