Mumbai:
Birla Sun
Life AMC (www.birlasunlifeamc.com)
has announced a weekly dividend under the dividend reinvestment
option in Birla Cash Plus. It has declared a weekly dividend
of Rs 0.014 per unit net of the dividend tax paid by the
fund.
The record date for the dividend is 1 February
2002. All investors on record in Plan A (dividend reinvestment)
as on record will be eligible for the dividend. The dividend
is tax-free in the hands of the investor.
Launched in June 1997, Birla Cash Plus
is one of Indias first liquid schemes. The scheme presents
an ideal "parking" opportunity for investors
looking to deploy their short-term surpluses and offers
redemptions in 24 hours. The scheme will be available
on an ex-dividend basis from 4 February 2002.
Among income schemes, BSLAMC also manages Birla Income
Plus (one of Indias largest private-sector income funds),
Birla Gilt Plus (a government securities
scheme), Birla MIP (a monthly income plan) and Birla Fixed
Maturity Plan (a debt-fund with multiple plans).
Other funds managed by BSLAMC include Birla Advantage
Fund (a diversified equity product), Birla IT
Fund (a technology fund), Birla MNC Fund (a fund investing
only in MNCs), Birla Equity Plan (an open-end equity-linked
savings scheme) and Birla Balance (a balanced fund).
Birla MNC Fund
Birla Sun Life
Asset Management Company, meanwhile, has declared a tax-free
dividend of 40 per cent in its Birla MNC Fund. The fund
had earlier declared a dividend of 25 per cent that was
paid in February 2000. All investors on record in the
dividend plan as on close of the business day of 22 February
2002 will be eligible for the dividend.
Traditionally, multinational companies have been known
for their vision, quality of management and growth, irrespective
of the nature of business. These qualities of MNCs help
the scheme to pursue the objective of consistent growth
for the benefit of investors.
Birla MNC Fund is a specialty fund, which invests in stocks
of multinational companies. Investments being of a very
strong pedigree, this is an ideal option for conservative
investors to invest in successful operations of global
giants, a company press release said.
The current NAV as on 30 January 2002 of the scheme in
the dividend plan is Rs 25.81 per unit. There will be
an exit load of 0.10 per cent for all investments received
between 1 and 22 February 2002, for redemptions within
30 days from the date of investment.
Today,
Birla Mutual Fund has emerged as one of the leading mutual
funds in India with over Rs 4,200 crore of assets under
management. It offers a range of investment schemes designed
to cater to every need of the investor.
The philosophy of Birla Sun Life Asset Management is to
generate consistent returns through superior yield on
its investments at relatively moderate levels of risk
through a diversified research-based investment approach.
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