Sahara Growth Fund announces 75% dividend
Mumbai, September 05, 2007: Sahara Mutual Fund has declared a dividend of 75% (Rs 7.5 per unit on face value of Rs 10) in its open-ended equity scheme - Sahara Growth Fund. The dividend declared is tax-free for the investors. The investment objective of the scheme is to achieve capital appreciation by investing in equity and equity-related instruments.
All investors registered under the dividend option of the scheme as on September 7, 2007 will receive this dividend. Please note that dividend as decided shall be paid, subject to availability of distributable surplus. Pursuant to payment of dividend, the NAV of the schemes would fall to the extent of payout and statutory levy (if applicable).
The last dividend declared by the scheme was 75% in March 2006. Over the last one year, Sahara Growth Fund as yielded 33% as compared to 28.7% given by its benchmark S & P CNX Nifty as on September 3, 2007.
Founded in 1978, Sahara India Group, has over the years emerged as a multi-service and multi-product business conglomerate with diverse interests in fields such as Para Banking, Housing, Infrastructure and Tourism, Media and Entertainment etc.
Sahara India Financial Corporation Limited is the flagship investment arm of the Sahara India Group. The company is the first Residuary Non-Banking Company (RNBC) in India that has been granted certificate of registration by RBI and is considered to be one of the leading public deposit mobilization company in the Private Sector. Sahara Asset Management Company Private Limited is the Investment Manager to Sahara Mutual Fund.
Sahara Mutual Fund currently manages five equity funds namely Sahara MidCap Fund, Sahara Growth Fund, Sahara Tax Gain Fund, Sahara Wealth Plus Fund and Sahara Infrastructure Fund. These Funds have performed remarkably well and all these Funds have outperformed their respective benchmarks by a significant margin.