The Hindu Business Line : 0.61 pc dividend from Chola MIP

Chola Mutual Fund has announced a dividend of 0.61 per cent under its Chola Monthly Income Plan for the monthly dividend option, for the period ending October 2004. The record date is October 25.

SBI Mutual Fund has declared dividends of 27 per cent, 21 per cent and 24 per cent under the SBI Magnum Taxgain, SBI Magnum Contra and SBI Magnum Global Fund respectively. Record dates for the payout are October 29 November 2 and November 19.

UTI Mutual Fund has declared a dividend of 12 per cent under its UTI Software sector fund and a dividend of 25 per cent under its UTI Pharma fund. The record date for the purpose of dividend payout has been fixed as November 5 and November 10 respectively.

Deutsche Mutual Fund is set to launch Deutsche International Bond Fund, a close-ended fund. The life of the scheme will be five years from the date of allotment. The fund aims at investing partially in overseas debt. At least 65 percent of assets will be allocated to domestic and foreign debt.

A limit of 35 per cent has been fixed for allocation to money market instruments and cash. Crisil Bond Fund Index will be the benchmark. Mr Suresh Soni has been named as fund manager of the fund.

Franklin Templeton Mutual Fund has declared a dividend of 40 per cent under its Franklin India Prima Plus. The record date for the dividend payout is October 27. The Fund is also set to launch Franklin India Flexi Cap fund, which will invest in stocks across market capitalisations.

Principal Mutual Fund has declared a dividend of 15 per cent under Principal Growth Fund. The record date for dividend payout is October 28.

LIC Mutual Fund has declared dividends of 3.5 per cent and 8.5 per cent under LIC Balanced Fund and LIC MF Unit Linked Insurance Scheme respectively. The record date for dividend payouts for both schemes has been fixed as November 1, 2004.

BL Research Bureau

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