The Hindu Business Line : Mutual Funds on dividend spree

JM Financial Mutual Fund has declared dividend of 45 per cent or Rs 4.50 per unit on JM Equity Fund and 25 per cent or Rs 2.5 per unit on JM Balanced Fund. The record date for both is March 29.

BOB Mutual has declared a dividend of 20 per cent for BOB Diversified Fund (formerly known as BOB ELSS'95). The record date for the dividend is April 14.

Canbank Mutual has declared dividends of 10 per cent and 4 per cent for Canbalance and Cancigo respectively. The record date for both is April 15.

Franklin Templeton Mutual has revised the load structure of Franklin Prima with effect from April 1, 2005. For investments less than Rs 25 crore, an entry load of 2.25 per cent would be charged and there would be no exit load. For fresh investments of amounts greater than Rs 25 crore that is made after April 1, the entry load would be waived and an exit load of two per cent would be charged in the event of redemption within a year of allotment.

Standard Chartered Mutual is winding up the following schemes with effect from March 31, 2005: Grindlays Super Saver income Fund-Short Term Plan B, Grindlays Dynamic Bond Fund-Plan B and Standard Chartered All Seasons Bond Fund-Plan B. This is in pursuance with SEBI regulations, which stipulate a minimum of 20 investors in a scheme and that no single investor must account for more than 25 per cent of the corpus.

Canbank Mutual has announced book closure in five of its schemes — CanIndex, CanIncome, Can Short Term Plan, CanGilt PGS and Can Equity Tax Saver from April 1 to April 8 (both days inclusive) for finalisation of accounts for the year ending March 31, 2005. There will not be any sale or repurchase of the units of these funds during the period.

DSP ML Mutual is to launch a mid-cap fund. A draft offer document has been filed with SEBI.

BL Research Bureau

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