Mf Newsline

K-Bond Wholesale Plan has introduced an annual dividend option - Dividend Option A. Unit holders in the Growth option of K-Bond Wholesale plan have the option to switchover to the new plan within November 28 and December 5, 2001.

However fresh investments in the new plan will start from November 6, 2001. The dividend option A will declare an annual dividend with the record date being March 12 of every year. If the amount of dividend is less than Rs 500, the same shall be compulsorily reinvested in the fund. Further the redemptions made within 6 months from the date of investment in the Dividend option A will be subject to an exit load of 0.75 per cent.

The initial offer period in the Long Term Plan (Group A) of Birla Fixed Maturity Plan (FMP) has been extended from 30 Nov to 5 Dec 2001. Carrying a minimum subscription of Rs 25000, the long-term plan opened up for subscription on November 19, 2001 and will be redeemed on April 30, 2003. The new fund aims to generate income by investing in debt and money market instruments, which mature in line with the maturity of the respective plans.

Pioneer ITI Mutual Fund has declared dividends in three of its debt funds namely:- Income Builder Account, Treasury Management Account and Monthly Income Plan. The record date for all the above funds was November 29, 2001.

Pioneer ITI Income Builder Account, a medium-term debt fund has declared a monthly dividend of 1 per cent (Rs 0.10 per unit). In the current financial year, the fund has paid an aggregate dividend of 8 per cent in eight consecutive monthly payments including the current payout.

A weekly dividend of 0.145 per cent (Rs 1.45 per unit on face value of Rs 1,000) has been declared in its Treasury Management Account, a short-term debt fund. The fund has posted a 3-months return of 1.95 per cent, as on November 28, 2001.

Pioneer ITI Monthly Income Plan (MIP) has also declared a monthly dividend of 0.75 per cent (Rs 0.075 per unit). Launched in September 2000, the fund has paid a total dividend of 9.57 per cent over twelve monthly payments.