IDFC MF Declares Dividend for Small & Midcap Equity Fund

IDFC Mutual Fund has announced the declaration of dividend under dividend option of IDFC Small & Midcap Equity Fund. The record date for dividend has been fixed as 29 April 2011.

The quantum of dividend will be Rs 1.50 per unit. The scheme recorded NAV of Rs 15.4885 per unit as on 20 April 2011.

IDFC Small & Midcap Equity Fund is an open ended equity fund which has the investment objective to generate capital appreciation from a diversified portfolio of equity and equity related instruments.

The scheme will predominantly invest in small and midcap equity and equity related instruments. Small and Midcap equity and equity related instruments will be the stocks included in the CNX Midcap index or equity and equity related instruments of such companies which have a market capitalization lower than the highest components of CNX Midcap Index.

The scheme may also invest in stock other than mid cap stocks (i.e. in stocks, which have a market capitalisation of above the market capitalisation range of the defined small midcap stocks) and derivatives. On defensive consideration, the scheme may also invest in debt and money market instruments.

Source: http://www.adityabirlamoney.com/news/470631/10/22,24/Mutual-Funds-Reports/IDFC-MF-Declares-Dividend-for-Small-Midcap-Equity-Fund-