The Hindu Business Line : Small-cap fund fetches 42.5 pc dividend

SBI Mutual Fund has announced a 42.5 per cent dividend under its small-cap fund — the Magnum Global Fund. The record date for the dividend is June 30.

JM Mutual Fund has announced that the record date for becoming eligible for dividend under the JM Equity and Derivatives Fund is June 29.

SEBI has received a report from the committee appointed in March 2005 to review the procedures for market participants to obtain a Unique Identification Number (UIN).

As this report is under consideration, fresh registrations for UIN have been suspended with effect from July 1.

Canbank Mutual Fund plans to roll out CanInfrastructure, an equity fund that will invest in infrastructure stocks.

The fund proposes to invest 75-100 per cent of its corpus in the equity or derivative instruments of infrastructure companies and up to 25 per cent in debt and money market instruments.

A swathe of sectors have been defined as `infrastructure' sectors for the purpose of this fund.

A few unusual inclusions are banking and financial services, healthcare, aluminium and other metal industries.

The fund will invest in the conventional infrastructure sectors such as engineering, construction, telecom, energy and power.

UTI Mutual Fund has announced that it will be winding up specific plans under five of its funds — Liquid Advantage Fund (Dividend and Growth Plans), Bond Advantage Fund Short Term Plan, Gilt Advantage Fund-STP, Index Advantage Fund-Nifty Plan and Sensex Plan.

It plans to redeem these schemes to reduce the multiplicity of schemes and because the schemes had higher expense ratios due to small fund sizes.

It has called meetings of unit-holders of these schemes to seek approval for the winding up.

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