Sahara Mutual Fund declares 40% Tax Free Dividend under Sahara Banking & Financial Services Fund
Sahara Mutual Fund has declared 40% tax-free dividend under Sahara Banking & Financial Services Fund. The Dividend is Tax Free in the hands of the investors. The record date for the purpose of dividend payout is 19/01/2010. The fund house has earlier made a similar 40% dividend payout on 31.07.2009.
Tweet-- Sahara Mutual Fund has declared 40% tax-free dividend under Sahara Banking & Financial Services Fund. The Dividend is Tax Free in the hands of the investors. The record date for the purpose of dividend payout is 19/01/2010.
All such investors under dividend option of Sahara Banking & Financial Services Fund whose name appear in the register of the unit holder's book as on the record date, would be eligible for dividend. The fund house has earlier made a similar 40% dividend payout on 31.07.2009.
Announcing the dividend, Mr. Naresh Kumar Garg, Chief Executive Officer, Sahara Mutual Fund mentioned that the "Indian economy is on the high growth path and Indian banking & financial system has proven its robustness in the economic crisis faced by economies across the globe over the last two years. The Indian Banking system which is the backbone of our economy is poised for better performance over medium to long term. He further mentioned that Sahara Banking & Financial Services Fund has shown remarkable performance ever since its launch in September 2008. It regularly feature among the Top performing funds. Based on its excellent performance, the Fund has declared two back-to-back dividends in the last 6 months."
Sahara Banking & Financial Services Fund is an Open - Ended Sectoral Growth scheme that aims to provide long term capital appreciation through investment in equities and equities related securities of companies engaged in Banking / Financial services. NAV of Sahara Banking and Financial Services Fund (Dividend Option) as on 14.01.10 is Rs.18.9493.
Mutual Fund Investments are subject to market risks. Please read the Scheme Information Document carefully before investing.
Scheme Classification & Objective: Sahara Banking and Financial Services is an open ended growth fund with an investment objective to provide long term capital appreciation through investment in equities and equities related securities of companies whose business comprise of Banking / Financial Services, either whole or in part. Risk Factors: Mutual Funds and securities investments are subject to market risks and the NAV of the scheme may go up or down depending upon the factors affecting the securities market. There can be no assurance or guarantee that the Scheme objectives will be achieved. The past performance of the previous scheme, sponsor or its group affiliates is not indicative of and does not guarantee future performance of the scheme. The sponsor is not responsible or liable for any loss or shortfall resulting from the operations of the scheme beyond the initial contribution of Rs.1 lakh made by it towards setting up of the Mutual Fund. Sahara Banking & Financial Services Fund is only the name of the scheme and does not in any manner indicate either the quality of the scheme, its future prospects or the returns. Please read the Scheme Information Document and Statement of Additional Information carefully before investing. Applicable Load: Entry Load: There is no entry load, Exit Load: 1% if redeemed on or before 12 months from date of allotment, if redeemed beyond 12 months from date of allotment: Nil. Statutory Details: Sahara Mutual Fund has been set up as a trust under the Indian Trust Act 1882 (liability restricted to the corpus of Rs.1 lakh) with Sahara India Financial Corporation Limited as Sponsor and Board of Trustees as Trust and Sahara Asset Management Company Private Limited as the Investment Manager to Sahara Mutual Fund.
Notes to Editor
Sahara Mutual Fund currently manages Ten Equity Funds namely Sahara Tax Gain Fund, Sahara Growth Fund, Sahara Mid Cap Fund, Sahara Wealth Plus Fund, Sahara Infrastructure Fund, Sahara R.E.A.L. Fund (Close Ended), Sahara Power and Natural Resources Fund, Sahara Banking and Financial Services Fund, Sahara Super 20 Fund and Sahara Star Value Fund. It also manages Six Debt Funds namely Sahara Income Fund, Sahara Gilt Fund, Sahara Liquid Fund, Sahara Classic fund, Sahara Short Term Bond Fund and Sahara Interval Fund Quarterly Plan - Series 1.