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Friday, September 17, 1999

DSPML bond fund declares 4.6% dividend 

PRESS TRUST OF INDIA  
Mumbai, Sept 16: DSP Merrill Lynch has declared a 4.6 per cent net dividend in its bond fund out of the total distributable surplus of 52 paise per unit. The dividend in the hands of investors in the dividend plan of the bond fund will be 46 paise after accounting for dividend tax of 11 per cent. Net assets under the fund has grown nearly 10 times since inception with the corpus growing to Rs 828 crore as on September 15, 1999, the company said, adding that the present net asset value of the scheme is Rs 10.87.

Commenting on the outlook for the bond market, chief investment officer S Naganath said, ``The prices of gilts remained range bound, after a rapid rise during early August as expectations of an interest rate cut began to recede.'' Corporate spreads for the medium tenor securities continued to narrow as the market exhibited healthy demand for quality corporate debt and interest rates are expected to maintain a steady trend.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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