Kotak Mahindra Mutual Fund today announced tax-free dividend of Rs. 4.00 per unit (on a face value of Rs. 10/- per unit) in Kotak Balance. The Dividend record date is March 25, 2008. Dividend distribution is subject to the availability and adequacy of distributable surplus. After the distribution of dividend, the NAV will fall to the extent of the dividend and distribution taxes, if any.
The investment objective of Kotak Balance is to achieve growth by investing in equity & equity related instruments, balanced with income generation by investing in debt & money market instruments.
Kotak Mahindra Mutual Fund is in the business of asset management, by providing investors with smart financial products, which are aimed at enhancing customers' wealth, along with services that make the investing process easier. The company has a history of innovative products and services behind it, and has led the way for the industry on many counts.
Set up in 1998, Kotak Mutual Fund currently manages assets worth Rs. 19731.48 crores contributed by over 8 lakh investors (as on 29thFebruary, 2008).
