Mumbai, September 28, 2011: IDBI Mutual Fund has declared dividend under the monthly and quarterly dividend options of IDBI Monthly Income Plan, an open-ended income scheme. The record date for dividend has been set as September 29, 2011 for the quarterly dividend option. The record date for the monthly dividend option was September 26, 2011.
The quantum of dividend will be 15 paise per unit for quarterly dividend option as on the record date. The quantum of dividend declared under the monthly dividend option is 4 paise. Dividend is being declared on the face value of Rs.10/- per unit.
Speaking on the occasion, Mr. Debasish Mallick, MD & CEO of IDBI Asset Management Ltd., said, “The IDBI Monthly Income Plan aims to provide regular returns in the form of dividend to investor seeking a steady income stream and we at IDBI Mutual Fund are glad to have successfully met this objective, so far, with regular dividend declaration.”
About IDBI Monthly Income Plan:
IDBI Monthly Income Plan is an open-ended income scheme. The investment objective of the scheme is to provide regular income along with opportunities for capital appreciation through investments in a diversified basket of debt, equity and money market instruments.
The asset allocation of the scheme is 80-100% in debt and money market instruments and 0-20% in equity and equity linked instruments. The scheme invests in the equity and equity related instruments of only such companies which are the constituents of either the S&P CNX Nifty Index (Nifty 50) or the CNX Nifty Junior Index (Nifty Junior) comprising a combined universe of 100 stocks.
Pursuant to payment of dividend, the NAV of the dividend options of the scheme would fall to the extent of payout & statutory levy.
About IDBI Asset Management Ltd.
IDBI Asset Management Ltd. is a wholly-owned subsidiary of IDBI Bank Ltd. The sponsor for the IDBI MF is IDBI Bank Ltd and the Trustee Company is IDBI MF Trustee Company Ltd. IDBI Mutual Fund’s mission is to promote financial inclusion, by assisting the common man in making informed investment choices, through mutual funds and thus bring to him, the prosperity of the capital markets.”
Disclaimer:
Risk factors: Mutual funds investments are subject to market risks, read all scheme related documents (SAI/SID/KIM) carefully
For further details, please contact:
Delna Irani / Monica Gupta
Adfactors PR
Mobile: 98206 60467/ 96196 17718
Email – [email protected] / [email protected]
