Financial Daily from THE HINDU group of publications
Sunday, Feb 22, 2004
Financial Daily from THE HINDU group of publications Sunday, Feb 22, 2004 |
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Investment World
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Mutual Funds Markets - Mutual Funds Fund talk Aarati Krishnan
Please let me know the period allowed to a fund to dispatch dividends to investors. I had invested Rs 1 lakh in a fund that declared a 40 per cent dividend recently. I have not received the dividend amount so far although it is more than a month since the record date. Is there any remedy to the retail investor in such a situation? A. Selvaraj Chennai Mutual funds are required to dispatch the dividend warrants within 30 days of the declaration of dividend. You have not mentioned which fund you have invested in, so we are unable to give you a specific contact to whom you can convey your grievance. But the authorised investor service centre of your fund in Chennai or the registrar who services your mutual fund should be in a position to sort out your problem. If not, you could try writing to the fund, through its Web site. You can also opt for ECS credit of dividends to avoid this problem in future. Kindly advise me on the long-term outlook for Sun F&C Emerging Technologies Fund and Alliance New Millenium Fund. I bought both at Rs 10 during their IPOs. M.Ramesh Babu Chennai Though the outlook for technology companies is improving due to expectations of a ramp-up in outsourcing, there are still quite a few risks and uncertainties associated with the sector. The fact that you have entered the sector at peak valuations (due to the timing of the launch) has enhanced the risks associated with your investment. We think that diversified equity funds, with a good five-year track record, would improve your chances of generating a reasonable return on your investment. Funds such as Franklin India Bluechip Fund, Templeton India Growth Fund and HDFC Top 200 Fund may be among the options you can consider. Please refer to our replies to a similar query in Business Line, February 8.
(Queries may be e-mailed mf@thehindu.co.in, or sent by post to Business Line Research Bureau, 859/860 Anna Salai, Chennai 600002.)
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