Cholamandalam Growth Fund to declare 10% dividend

Mumbai: Chola MF will declare a dividend of 10 per cent (Re1 per unit on the face value of Rs10) under Cholamandalam Growth Fund. This is the sixth dividend from the scheme in the last 18 months. The record date for receiving tax-free dividend is December 10, 2004. All investors whose names appear in the register of unit holders as on that date will be eligible for the dividend. The net asset value of the fund as on November 30, 2004, was Rs12.26 per unit.

According to Sashi Krishnan, chief executive, Chola Mutual Fund, "Cholamandalam Growth fund is a diversified equity fund with a bias towards investing in large cap stocks. The fund seeks to create wealth for investors by creating a portfolio of companies with promising medium term potential. The fund invests from a universe of stocks, which has been arrived at using various filters like management quality, liquidity, competitive position and valuations. Companies within this universe are selected on the basis of their medium term earnings prospects, relative valuations and restructuring potential".

The fund offers dividend and growth options. The minimum application amount is Rs5,000 under both the options.