New Delhi: Anil Dhirubhai Ambani Group firm Reliance Mutual Fund on Monday announced a dividend of 20% or Rs2 per unit for investors in its power sector scheme.
“All unit holders registered under the Reliance power sector scheme as on 25 March 2009, will be eligible for this dividend,” Reliance Mutual Fund said in statement.
The total dividend payout under this scheme to date, since January 2005, is close to 130%, the company said.
“In spite of the volatile equity markets, Reliance Mutual Fund has maintained its strategy of giving timely and regular dividends on equity schemes. We always endeavour to offer best -in-class products and services to increase value to our investors,” Reliance Mutual Fund CEO Sundeep Sikka said.
The Reliance power sector scheme is an open-ended power sector scheme with a primary investment objective in seeking to generate continuous returns by actively investing in equity or equity-related or fixed income securities of power and other associated companies.
According to the company, as on 20 March, the net asset value (NAV) under the dividend plan of this scheme - retail and institutional plan - was Rs28.77 and Rs189.7, respectively.
With a corpus of over Rs81,627 crore (as on 28 Feb 2009), the ADAG fund house is the largest mutual fund in the country.