HDFC Mutual Fund declares dividends

Mumbai: HDFC Mutual Fund is declaring dividends under the Dividend Plans / Options of HDFC Income Fund, HDFC Income Fund - Premium Plan & Premium Plus Plan, HDFC Gilt Fund - Short Term Plan & Long Term Plan, HDFC High Interest Fund (formerly Zurich India High Interest Fund) - Quarterly, Half yearly and Yearly Options and HDFC Sovereign Gilt Fund (formerly Zurich India Sovereign Gilt Fund) - Savings Plan, Investment Plan & Provident Plan. The record date for the dividend declaration is Monday, March 22, 2004.

All investors who invest under the Dividend Options of the various plans of HDFC Income Fund, HDFC Gilt Fund, HDFC High Interest Fund and HDFC Sovereign Gilt Fund on or before March 22, 2004 and hold the units of the scheme (Dividend Plan) as on March 22, 2004 will be eligible for dividend payment. Dividend declared will be subject to the approval of the Trustee. After the payment of the dividend, the NAV will fall to the extent of the payout.

The assets under management of HDFC Mutual Fund stood at Rs.15437.49 crore as at February 29, 2004.

HDFC Asset Management Company Limited is a joint venture between HDFC Limited and Standard Life Investments Limited (UK).