Press release
IDBI Monthly Income Plan declares dividend under its Monthly & Quarterly Dividend Options
IDBI Mutual Fund has declared dividend under the monthly and quarterly dividend options of IDBI Monthly Income Plan, an open-ended income scheme. The record date for dividend has been set as September 29, 2011 for the quarterly dividend option. The record date for the monthly dividend option was September 26, 2011.The quantum of dividend will be 15 paise per unit for quarterly dividend option as on the record date. The quantum of dividend declared under the monthly dividend option is
4 paise. Dividend is being declared on the face value of Rs.10/- per unit.
Speaking on the occasion, Mr. Debasish Mallick, MD & CEO of IDBI Asset Management Ltd., said, “The IDBI Monthly Income Plan aims to provide regular returns in the form of dividend to investor seeking a steady income stream and we at IDBI Mutual Fund are glad to have successfully met this objective, so far, with regular dividend declaration.”
About IDBI Monthly Income Plan:
IDBI Monthly Income Plan is an open-ended income scheme. The investment objective of the scheme is to provide regular income along with opportunities for capital appreciation through investments in a diversified basket of debt, equity and money market instruments.
The asset allocation of the scheme is 80-100% in debt and money market instruments and 0-20% in equity and equity linked instruments. The scheme invests in the equity and equity related instruments of only such companies which are the constituents of either the S&P CNX Nifty Index (Nifty 50) or the CNX Nifty Junior Index (Nifty Junior) comprising a combined universe of 100 stocks.
Pursuant to payment of dividend, the NAV of the dividend options of the scheme would fall to the extent of payout & statutory levy.
About IDBI Asset Management Ltd.
IDBI Asset Management Ltd. is a wholly-owned subsidiary of IDBI Bank Ltd. The sponsor for the IDBI MF is IDBI Bank Ltd and the Trustee Company is IDBI MF Trustee Company Ltd. IDBI Mutual Fund’s mission is to promote financial inclusion, by assisting the common man in making informed investment choices, through mutual funds and thus bring to him, the prosperity of the capital markets.”
Disclaimer:
Risk factors: Mutual funds investments are subject to market risks, read all scheme related documents (SAI/SID/KIM) carefully
For further details, please contact:
Delna Irani / Monica Gupta
Adfactors PR
Mobile: 98206 60467/ 96196 17718
Email – delna@adfactorspr.com / monica.gupta@adfactorspr.com
Digital PR Practice
Adfactors PR Pvt. Ltd.
Raj Mahal, 4th Floor,
84, Veer Nariman Road, Churchgate,
Mumbai 400020
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release IDBI Monthly Income Plan declares dividend under its Monthly & Quarterly Dividend Options here
News-ID: 193856 • Views: …
More Releases for IDBI
India Factoring Services Market to Reach $48.97 billion, by 2032 at 11.6% CAGR | …
Recently, Allied Market Research has published a report on the India Factoring Services Market in which it has touched upon various aspects of the industry ranging from growth forecast, upcoming trends, regional and segmental analysis, and competitive scenario of the landscape. The report provides actionable data and market intelligence on the changing dynamics of the sector in order to help businesses understand how the market might evolve in the coming…
Endowment Insurance Market 2019 – 2025 Brief Analysis By Top Key Players – A …
“An endowment policy is a life insurance contract designed to pay a lump sum after a specific term or on death. Typical maturities are ten, fifteen or twenty years up to a certain age limit. Some policies also pay out in the case of critical illness. Policies are typically traditional with-profits or unit-linked.”
Endowment Insurance Global Market 2019 research report presents analysis of market size, share, and growth, trends, cost structure,…
Online Life Insurance Market Costs And Incomes Impressive Growth Rate Overview, …
The Global Online Life Insurance Market Research Report Forecast 2018-2023 is a valuable source of insightful data for business strategists. It provides the Online Life Insurance industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Online Life Insurance market study provides comprehensive data which enhances the…
IDBI Bank Celebrates its Foundation Day
October 5, 2011: IDBI Bank celebrated its 8th Foundation Day. On October 1, 2004 IDBI got converted into ‘IDBI Bank Ltd.’ Keeping the past tradition in mind, the weeklong celebrations will be extended pan India, with ‘Customer Delight’ being the prime focus. Further, this year the focus will be extended to…
IDBI Bank receives “CNBC TV18 Special Jury Award”
Mumbai : IDBI Bank was conferred the “CNBC TV18 Special Jury Award” in Mumbai. Shri R.M. Malla, CMD, IDBI Bank received the award from honorable Union Cabinet Minister, Corporate Affairs, Shri M. Veerappa Moily.
The Bank was the recipient of the award in the large banks category. The awards were conferred on the basis of CNBC TV 18 - KPMG study of Indian Banks and financial Institutions on criteria such as…
IDBI Federal launches Retiresurance Guaranteed Pension Plan
Hyderabad, February 16, 2011: Seeking to insure the consumption-heavy generation from possible future shocks and to help them keep pace with inflation, one of the fastest growing private insurers, IDBI Federal Life Insurance has launched Retiresurance® Guaranteed Pension Plan, a unique retirement plan which comes with the twin benefits of guaranteed accumulation with attractive annuities.
IDBI Federal Retiresurance® Guaranteed Pension Plan is a non participating traditional deferred pension plan designed to…
