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Kotak Mahindra mutual fund announces 60% dividend

Kotak Mahindra mutual fund announces 60% dividend
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First Published: Tue, Jan 08 2008. 09 24 AM IST
Updated: Tue, Jan 08 2008. 09 24 AM IST
Mumbai: Kotak Mahindra Mutual Fund today announced tax-free dividend of Rs6.00 per unit (on a face value of Rs10 per unit) in Kotak 30, an open-ended equity growth scheme.
The Dividend record date is 11January, 2008. Dividend distribution is subject to the availability and adequacy of distributable surplus. After the distribution of dividend, the NAV will fall to the extent of the dividend and distribution taxes, if any.
The investment objective of Kotak 30 is to generate capital appreciation from a portfolio of predominantly equity and equity related securities, the scheme investing in around 30 companies which may go upto 39 companies.
Kotak Mahindra Mutual Fund is in the business of asset management and it provides investors with smart financial products, aimed at enhancing customers’ wealth, along with services that make the investing process easier. The company has a history of innovative products and services behind it, and has led the way for the industry on many counts.
Set up in 1998, Kotak Mutual Fund currently manages assets in excess of Rs. 20866.93 crore contributed by over 4.5 lakh investors (as on 31December, 2007).
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First Published: Tue, Jan 08 2008. 09 24 AM IST