60% Dividend in Kotak Opportunities Fund

Kotak Mutual Fund announced a 60% dividend (Rs 6.00 per unit on a face value of Rs 10), under the dividend option of Kotak Opportunities Fund. The record date of the same has been fixed as January 25, 2008.

This would be the sixth dividend being declared by the fund since its launch. Last year in October, the fund paid 30% dividend.

(by valuereseach)

40% Dividend under DWS Alpha Equity Fund

Deutsche Mutual Fund has announced a dividend of 40% (i.e. Rs 4 per unit on the face value of Rs 10) under the dividend option of DWS Alpha Equity Fund. The record date for the same has been fixed as January 25, 2008.

This dividend is being declared after a gap of one year. The last dividend of 35% was paid in January 2007.

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DSPML Equity Fund declares 70% Dividend

DSPML Mutual Fund has announced a dividend of 70% (i.e. Rs 7 per unit on the face value of Rs 10) under the dividend option of DSPML Equity Fund. The record date for the same has been fixed as January 25, 2008.

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ING Mutual Revises Exit Load under its Equity Funds

ING Mutual Fund has revised the exit load structure under the following equity schemes: ING Select Stocks, ING Tax Savings, ING Nifty Plus, ING Domestic Opportunities, ING Midcap, ING A.T.M., ING L.I.O.N., ING Dividend Yield and ING Balanced.

From 21st January 2008, theses funds will be charging an exit load of 1% for investment less than Rs.1 crore if redeemed within 6 months and 0.50% if redeemed after 6 months but before 1 year.

However, no change has been done in the entry load structure.

(by valuereseach)

8% Dividend in UTI Dividend Yield Fund

UTI Mutual Fund announced a 8% dividend (Rs 0.80 per unit on a face value of Rs 10), under the dividend option of UTI Dividend Yield Fund.

The record date of the same has been fixed as January 23, 2008.

This fund has already given eight dividends since its launch. The last dividend was of 8% being paid in September, 2007.

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Load Revision under Equity Funds of Kotak Mutual

Kotak Mutual Fund has revised the exit load structure under the following equity schemes: Kotak 30, Kotak Tech, Kotak MNC, Kotak Balance, Kotak Global India, Kotak Midcap, Kotak Contra, Kotak Opportunities, Kotak Lifestyle and Kotak Equity FOF.

From 21st January 2008, theses funds will be charging an exit load of 1% for investment less than Rs.5 crores if redeemed within 6 months and 0.50% if redeemed after 6 months but within 1 year.

However, entry load continues to remain the same i.e 2.25% for investment less than Rs. 5 crores.

(by valueresearch)

Introduction of Institutional Plan in DSPML Technology.com

With effect from January 15, 2008, DSPML Mutual Fund has introduced an institutional plan under DSPML Technology.com. After the introduction, the existing plan will be referred to as DSPML Technology.com-Regular Plan.

The following would be applicable for the institutional plan:

1. The eligible investors under the institutional plan would be banking companies, public financial institutions, insurance companies, FIIs, pension funds, portfolio managers NBFCs and provident funds.

2. The minimum application amount would be Rs 5 crore and subsequent purchase for a minimum amount of Rs 5 lakh.

3. There will no entry or exit load.

4. The estimated recurring expenses would be 1.45 per cent on an annual basis.

5. It will offer growth and dividend options. The dividend option will offer payout and reinvestment facility.

However, the Regular and Institutional Plan will have the same investment objective, a common portfolio and the same benchmark index.

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Extension of NFO Period for ABN Amro Interval Fund Quarterly Plan L

ABN Amro Mutual Fund has announced the extension of new fund offer period for ABN Amro Interval Fund Quarterly Plan L. The closing date has been extended from January 15, 2008 to January 21, 2008.

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UTI Mutual Announces Closure of UTI SCUP

UTI Mutual Fund has announced the closure of UTI Senior Citizen Unit Scheme. The scheme will be terminated on February 18, 2008.

UTI Mutual Fund has announced an alternate health insurance product of New India Assurance Company to the members upto the age of 58 years, in lieu of UTI SCUP. However, for the members above the age of 58 years, New India Assurance Company will continue to provide the hospitalisation cover as per the existing arrangement.

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ABN Amro Opportunities Fund Announces Change in Load

ABN Amro Mutual Fund has announced a modification in the exit load of ABN Amro Opportunities Fund, with effect from January 15, 2008.

Now, the fund would charge an exit load of 1 per cent for all investments less than Rs 5 crore, redeemed within 6 months. An exit load of 1 per cent for investments of Rs 10 crore and above redeemed within 6 months, has been withdrawn.

(by valueresearch)