The Hindu Business Line : Franklin Bluechip declares 25 pc dividend

UTI Mutual Fund has increased the maximum target amount that can be accumulated under its Unit Linked Insurance Plan (ULIP) from Rs 2 lakh to Rs 5 lakh for investors with independent income.

For women who do not have an independent source of income, the maximum target has been revised to Rs 2 lakh from Rs 1 lakh.

The minimum target amount that can be accumulated is Rs 15,000 and in multiples of Rs 1,000 thereafter for the 10-year plan and Rs 1,500 thereafter for the 15-year plan.

HSBC Mutual Fund is to wind up HSBC Gilt Fund- Long Term Plan with effect from January 31,2005 as the plan does not meet SEBI regulations, which stipulate that each plan should have a minimum of 20 investors and that no single investor can hold more than 25 per cent of the corpus.

Prudential ICICI Mutual Fund has revised the load structure for the Systematic Investment Plan of its PruICICI Child Care Plan, with effect from January 28, 2005.

The exit load will now be two per cent for investments held for a period of less than one year and one per cent for investments held for a period of more than one year but less than three years.

HSBC Mutual Fund witnessed a 103- per-cent growth in its assets under management in the calendar year 2004.

The assets grew to Rs 7,279 crore as on December 31,2004 from Rs 3,576 crore a year ago.

During the year, the asset base of the HSBC Equity rose 98 per cent to Rs 1,612 crore from Rs 814 crore, while HSBC Floating Rate Fund which was launched in November, generated over Rs 1,264 crore in just two months.

BL Research Bureau

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