UTI MF Declares Dividend for Dividend Yield Fund

UTI Mutual Fund has declared dividend on the face value of Rs 10 per unit under dividend option of UTI Dividend Yield Fund. The record date for the dividend has been fixed as 17 March 2010.

The quantum of dividend will be 5% (Rs. 0.50 per unit) as on the record date. The NAV for the scheme was at Rs 14.22 per unit as on 10 March 2010.

UTI Dividend Yield Fund is an open ended equity oriented scheme, which has the investment objective to provide medium to long term capital gains and/or dividend distribution by investing predominantly in equity and equity related instruments, which offer high dividend yield.

Source: http://profit.ndtv.com/2010/03/12103551/UTI-MF-Declares-Dividend-for-D.html

IDFC Fixed Maturity Plan - Quarterly Series 55 - Plan A Floats On

IDFC Mutual Fund has launched a new fund named as IDFC Fixed Maturity Plan - Quarterly Series 55 - Plan A, a close ended income scheme. The scheme shall mature on 22 June 2010. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 12 March and closes on 18 March 2010.

The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments maturing before the maturity of the scheme.

The scheme offers two options viz. growth and dividend option.

The scheme will allocate up to 100% of assets in debt and money market instruments with low to medium risk profile. Investment in securitised debt would be up to 50% of net assets of the plan(s). Investments in derivatives, foreign securities and stock lending would be nil.

The minimum application amount is Rs 10000 and in multiples of Rs 10.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 1 crore under the scheme during the NFO period.

Entry load and exit load charge will be nil for the scheme.

Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.

The scheme will be managed by Mr. Anupam Joshi.

Source: http://profit.ndtv.com/2010/03/12113551/IDFC-Fixed-Maturity-Plan--Qua.html