HDFC MF to declare maiden dividend for its Growth Fund

Mumbai: HDFC Mutual Fund is declaring a maiden dividend under the Dividend Plan of HDFC Growth Fund. The dividend will be tax-free in the hands of the investors. The record date for the dividend declaration is 1 September 2003.

All investors who invest under the Dividend Plan of HDFC Growth Fund on or before 1 September 2003 and hold the units of the scheme as on 1 September 2003 will be eligible for the dividend payment. The dividend declared will be subject to the approval of the trustee. After the payment of the dividend, the net asset value will fall to the extent of the payout.

HDFC Growth Fund, which was launched on 11 September 2000, has mobilised an asset base of Rs 197.26 crore as at 31 July 2003. HDFC Asset Management Company is a joint venture between HDFC and Standard Life Investments Limited, UK.