Religare Banking Fund declares dividend

By SiliconIndia   |   Thursday, January 28, 2010   |    1 Comments
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Mumbai: Religare Mutual Fund has declared a dividend of 25 percent (Rs.2.50 per unit on the face value of Rs.10) under the dividend option of Religare Banking Fund. The record date for dividend is January 29, 2010. All investors under the dividend option, whose names appear on the register of unit holders as on January 29, 2010 would be eligible for the dividend. The net asset value of the scheme as on January 22, 2010 under the dividend option stood at Rs.14.35 per unit. Religare Banking Fund is an open ended banking sector scheme that seeks to generate long-term capital growth from a portfolio of equity and equity-related securities of companies engaged in the business of banking and financial services. Religare Banking Fund has a mandate to have at least 65 percent of the portfolio invested in companies forming part of CNX Bank Index, and the remainder to be invested in banking and financial services companies other than the constituents of CNX Bank index. The fund is concentrated in nature due to its single sector focus and is ideally suited for investor with a higher risk appetite.
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