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Sun F&C MIP gives 0.9%
Sun F&C Mutual Fund has announced a dividend of 0.9 per cent (9 paise on face value of Rs 10) for its monthly income plan for the period ended June 30, 2000. This is the first dividend by the scheme for the period up to June 30, 2000 for the monthly income plan as well as quarterly plan. Dividends will, henceforth, be paid on a monthly/quarterly basis.According to Nikhil Khattau, CEO, ``The coming on stream of MIP is an important milestone for Sun F&C in its quest for quickly putting in place a family of funds for its investors. Monthly or regular income segment represents a substantial segment of mutual fund market.'' Sun F&C MIP was launched in March 2000 to generate regular income (monthly or quarterly dividends) At a point of time, 85 per cent of the corpus will be invested in debt and money market instruments and the balance in equity. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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