Mumbai: Kotak Mahindra Mutual Fund has announced a tax-free dividend of Rs3.50 per unit (on a face value of Rs10/- per unit) in Kotak Tax Saver.
The dividend record date is 8February, 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 Tax Saver is to generate long-term capital appreciation from a diversified portfolio of equity and equity related securities and will enable investors to avail the income tax rebate, as permitted from time to time.
Kotak Mahindra Mutual Fund is in the business of asset management, by providing investors with smart financial products, which are 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.