Kotak MF Declares Dividend

Kotak Mahindra Mutual Fund has approved the declaration of dividend under the Kotak Tax Saver Scheme. The record date for dividend is set as 8 February 2008. The NAV for the schemes under dividend option stood at Rs. 15.620 on 30 January 2008. The fund house has declared a dividend of 35% i.e. Rs 3.50 per unit on face value of Rs 10. Kotak Tax Saver Scheme is an open-ended equity linked saving scheme with an objective to generate long-term capital appreciation from a diversified portfolio of equity and equity related securities and enable investors to avail the income tax rebate, as permitted from time to time.