Religare MF declares 25% dividend under Religare Banking Fund

Mumbai, January 25, 2010: Religare MF has announced dividend of 25% (Re. 2.50/- per unit on the face value of Rs.10) under the dividend option of Religare Banking Fund. (Dividend distribution is not assured and is subject to availability of distributable surplus on the record date. After the payment of dividend, the NAV will fall to the extent of payout and statutory levy if any.) The record date for dividend is January 29, 2010. All investors under the dividend option, whose names appear on the register of unit holders as on January 29, 2010 would be eligible for dividend. Religare Banking Fund is an open ended banking sector scheme that seeks to generate long-term capital growth from a portfolio of equity and equity-related securities of companies engaged in the business of banking and financial services. The NAV of the scheme as on January 22nd, 2010 under the dividend option stood at Rs. 14.35/- per unit.

This is the 2nd dividend declared by the scheme; the last dividend declared by the scheme was 7.5% in July 2009.

Religare Banking Fund has a mandate to have atleast 65% of the portfolio invested in companies forming part of CNX Bank Index, and the remainder to be invested in banking and financial services companies other than the constituents of CNX Bank index. The fund is concentrated in nature due to its single sector focus and is ideally suited for investor with a higher risk appetite.

The fund offers both Lump sum and SIP modes of investment along with dividend & growth options.

Source : Equity Bulls

Keywords