DSP ML announces dividends on Opportunities, India T I G E R Funds
By Our Corporate Bureau | 15 Mar 2005
DSP Merrill Lynch Mutual Fund has declared a dividend under the Dividend Options of the DSPML Opportunities Fund and DSPML India T I G E R Fund ('the infrastructure growth and economic reforms fund'). The dividends are: | Scheme | Dividend per unit | Record date |
| DSP Merrill Lynch Opportunities Fund — Dividend Option | Rs. 2.50 | 23 March 2005 |
| DSP Merrill Lynch India T.I.G.E.R. Fund — Dividend Option | Rs. 1.50 | 11 April 2005 |
The dividend payouts are on a face value of Rs10/-. This dividend will be tax free in the hands of the investor. Post the declaration of the dividend, the NAV of the schemes will fall to the extent of the dividend payout.
As on March 7, 2005, the NAV of the DSPML Opportunities Fund (Dividend Option) was Rs21.46 and DSPML India T.I.G.E.R. Fund was Rs14.54.
DSPML Opportunities Fund is an open-ended growth scheme and focuses on different sectors, such as the lifestyle, pharmaceuticals, cyclical and technology sectors. The scheme's primary objective is long-term capital appreciation, with income generation and distribution of dividend as its secondary objective Its asset allocation is between 80 per cent —100 per cent in Equity and equity related securities and up to 20 per cent in, securitised debt and money market securities.
DSPML India T I G E R Fund is an open ended growth scheme with the primary investment objective being to generate capital appreciation from a portfolio that is substantially comprises equity securities of corporates. The funds' asset allocation is between 90 per cent and 100 per cent in equity and equity related securities, securitised debt and money market securities comprise up to 10 per cent and up to 25 per cent in ADRs,GDRs and foreign securities.
The minimum investment in the two funds is Rs1,000 and multiples of Re1 thereafter.
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