Mumbai:
Chola MF to declare maiden dividend of 10 per cent (Re1
per unit on the face value of Rs10) under Chola Midcap
Fund. The fund units were allotted on 9th August, 2004.
The record date for tax free dividend is 24th November,
2004. Investors whose names appear in the register of
unit holders as on 24 November, 2004 would be eligible
for the dividend. The net asset value of the fund as
on 10th November, 2004 stood at Rs12.36 per unit.
According
Sashi Krishnan, chief executive, Chola Mutal Fund, "Investments
in mid-caps should be done with a long term investment
horizon. We are bullish on midcap stocks and that investors
will be able to derive maximum value from such an investment
if they stay invested over the long term. As per the
study conducted by Chola AMC of the current top 50 stocks
by market cap, about 20 of them were mid-cap stock a
few years back, he added.
Chola
Midcap Fund is an open ended equity scheme with the
objective of generating capital appreciation by investing
primarily in midcap stocks that have a market capitalization
between Rs 300 crore to Rs 3000 cr.
The
fund offers dividend & growth options. The minimum
application amount is Rs 5000/- under both the options.
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