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Kotak Mahindra Mutual Fund announces 40% dividend

Kotak Mahindra Mutual Fund announces 40% dividend
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First Published: Wed, Mar 19 2008. 04 27 PM IST
Updated: Wed, Mar 19 2008. 04 27 PM IST
Mumbai: Kotak Mahindra Mutual Fund today announced tax-free dividend of Rs4.00 per unit (on a face value of Rs10/- per unit) in Kotak Balance. The dividend record date is March 25, 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 Balance is to achieve growth by investing in equity and equity related instruments, balanced with income generation by investing in debt & money market instruments.
Kotak Mahindra Mutual Fund is in the business of asset management, by providing investors with financial products that are aimed at enhancing customers’ wealth, along with services that make the investing process easier.
Set up in 1998, Kotak Mutual Fund currently manages assets worth Rs19731.48 crore contributed by over eight lakh investors. Kotak Balance is an open-ended balanced scheme.
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First Published: Wed, Mar 19 2008. 04 27 PM IST