Sahara Mutual Fund declares 40% Tax Free Dividend under Sahara Tax Gain Fund
Sahara Mutual Fund has declared 40% tax-free dividend under Sahara Tax Gain Fund. The Dividend is Tax Free in the hands of the investors. The record date for the purpose of dividend payout is 12/03/2010. All such investors under dividend option of Sahara Tax Gain Fund whose name appear in the register of the unit holder's book as on the record date, would be eligible for dividend
Tweet-- Sahara Mutual Fund has declared 40% tax-free dividend under Sahara Tax Gain Fund. The Dividend is Tax Free in the hands of the investors. The record date for the purpose of dividend payout is 12/03/2010.
All such investors under dividend option of Sahara Tax Gain Fund whose name appear in the register of the unit holder's book as on the record date, would be eligible for dividend.
Announcing the dividend, Mr. Naresh Kumar Garg, Chief Executive Officer, Sahara Mutual Fund mentioned that the Sahara Tax Gain Fund has given consistent and superior performance to its investors since its inception. The investors in this Fund have got handsome returns besides the tax benefits. Considering the high growth trajectory of the Indian GDP, the investors may reap attractive investment returns through investment in Sahara Tax Gain Fund.
Sahara Tax Gain Fund is an open ended Equity Linked Saving Scheme (ELSS) that not only helps one save tax under section 80C of the Income Tax Act, 1961 but also has the potential of long-term growth through investments in equities. The investment style of the Fund is to capture this growth in its portfolio by the judicious selection of stocks with the prime objective of creating value for our investors. The portfolio is well diversified having an optimum number of quality stocks to maintain a medium risk level. NAV of Sahara Tax Gain Fund (Dividend Option) as on 05.03.10 was Rs.18.1819.
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.
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.
Scheme Classification & Objective: Sahara Tax Gain Fund is an open ended equity linked savings scheme with an objective to provide immediate tax relief and long term growth of capital to investors by investing in equity & equity related instruments. 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. Past performance may or may not be sustained in future. Sahara Tax Gain 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: Nil, Exit load: 1% if redeemed on or before 36 months from the date of allotment, Beyond 36 months: 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 lac) 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.