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Reliance MF Has Announced The Declaration Of Dividend

Reliance Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit for Reliance Fixed Horizon Fund- III- Annual Plan -Series I under both retail and institutional plan. The record date is set as 12 May 2008. The fund house has decided to distribute 100% of surplus available under both plans as on record date. The NAV for the scheme under retail plan was Rs. 10.1354 and that of under institutional plan was Rs. 10.1368 as on 5 May 2008. Reliance Fixed Horizon Fund- III- Annual Plan -Series I is a close-ended income fund. The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of central and state government securities and other fixed income/ debt securities normally maturing in line with the time profile of the series with the objective of limiting interest rate volatility.

ING MF Plans To Distribute Entire Appreciation In The NAV

ING India Mutual Fund has announced 12 May 2008 as the record date for declaration of dividend under dividend option of ING Fixed Maturity Plan - Series 41. The AMC plans to distribute entire appreciation in the NAV of dividend option from the date of allotment to 12 May 2008 as dividend. The NAV under the scheme is Rs 10.1364 as on 5 May 2008. ING Fixed Maturity Plan - Series 41 is a close -ended scheme offering an investment plan of 92 days maturity, investing in a portfolio of government securities or highly rated corporate bonds maturing close to maturity of the scheme so as to generate returns comparable with alternative fixed-income instruments of similar maturity.

Kotak Launches Sensex ETF

Kotak Mutual is launching Kotak Sensex ETF on May 7, 2008. This exchange traded fund will track BSE Sensitive Index (Sensex) to provide returns before expenses that closely correspond to the total returns of the BSE Sensex. The fund is open for subscription from May 07, 2008 till May 16, 2008. The units would be listed on BSE to provide liquidity through secondary market.

This will be the second ETF on Sensex. The first ETF on Sensex was launched in January 2003 -- ICICI Pru Spice which has closely tracked Sensex and delivered returns as much as the Sensex in the past 5-years but currently has less than Rs 1 crore assets under management.

ETF is an Index fund but they trade on the market like stocks. Kotak Sensex ETF will facilitate exposure to Sensex with a single order. It will also enable trading flexibility by Intra day buying and selling just like any other listed share. The pricing will also be almost live as the intraday indicative price is likely to be closely linked to Sensex.

Index funds have lower cost as they charge lower management fee compared to actively managed funds. Investors will have to pay brokerage in buying and selling these instead of any entry/exit load.

Other Details:

Each unit of the Kotak Sensex ETF will be approximately equal to 1/100th of the value of BSE SENSEX

Entry Load during NFO: For investments < investments =" "> Rs 1 Crore Nil

No entry load shall be charged on “all direct” applications received by AMC i.e., on application forms that are not routed through any distributor / agent / broker and submitted to AMC office or collection centre / investment service centre.

Entry Load during continuous offer : Nil

Exit Load Nil