Taurus Tax Shield declares 10% dividend thrice in a row

Taurus Mutual Fund’s tax saver scheme Taurus Tax shield declared a 10 per cent dividend on 1st March 2009. The record date for dividend payout of this open-ended Equity Linked Savings Scheme (ELSS) is March 6, 2009. Investors who have opted for dividend and whose names appear in the scheme’s books as on the record date, are eligible.

Speaking on this occasion, Mr. Waqar Naqvi, CEO, Taurus Mutual Fund said “Taurus Tax Shield is one of our star performers and ‘this three in a row’ dividend payout, that too under volatile market conditions is proof enough of the capabilities of our investment team. Backed by such high performers, we endeavour to provide superior returns to all our investors”.

Taurus Tax Shield’s objective is to provide long term capital growth through investments across all market capitalisations, including small, mid and large cap stocks. The fund aims to be predominantly invested in equity and equity related securities.

Along with, giving investments to the potential growth of equities, it also gives the added advantage of tax savings under section 80C of the Income Tax Act and personal accident death insurance cover. The scheme has a 3-year lock-in-period from the date of allotment and charges no entry load on direct application.

The scheme also has the facility of SIP(Systematic Investment Plan) offered to its investors to counter volatility and invest regularly to benefit from the growth. Net Asset Value (NAV) of the fund as on 27th Feb 2009 is Rs 13.64

About Taurus Mutual Fund:
TAURUS Asset Management Company Limited was incorporated in 1994. It has around  Rs. 206 crores of average assets under management (as on 28th February 2009) and investor base of approximately 1.65 lacs. The company presently offers 9 mutual fund schemes through a network of 16 branches spread across 16 cities.

Prominent schemes of the fund house include Taurus Star Share (which was conferred the Lipper Award for the Equity Category for a three year performance), Taurus Discovery Stock & Taurus Tax Shield. Taurus launched one of-its-kind fund ‘Taurus Ethical Fund’, country’s first actively managed Shariah complaint fund.