“All unit holders registered under the Reliance power sector scheme as on March 25, 2009, will be eligible for this dividend,” Reliance Mutual Fund said in statement.
The total dividend payout under this scheme to date, since January 2005, is close to 130 per cent, the company said.
“In spite of the volatile equity markets, Reliance Mutual Fund has maintained its strategy of giving timely and regular dividends on equity schemes. We always endeavour to offer best -in-class products and services to increase value to our investors,” Reliance Mutual Fund CEO Sundeep Sikka said.
The Reliance power sector scheme is an open-ended power sector scheme with a primary investment objective in seeking to generate continuous returns by actively investing in equity or equity-related or fixed income securities of power and other associated companies.
According to the company, as on March 20, the net asset value (NAV) under the dividend plan of this scheme – retail and institutional plan – was Rs 28.77 and Rs 189.7, respectively.
With a corpus of over Rs 81,627 crore (as on Feb 28, 2009), the ADAG fund house is the largest mutual fund in the country.