Mumbai, June 12, 2017: Mahindra Asset Management Company Pvt. Ltd. (MAMCPL), the investment manager to Mahindra Mutual Fund and the wholly owned subsidiary of Mahindra Finance, announced a dividend of 1.50% (Rs.0.15 per unit on face value of Rs.10) in its open ended equity fund – Mahindra Mutual Fund Dhan Sanchay Yojana – Direct and Regular plan(s).
The record date for the proposed dividend is June 16, 2017. All investors in the dividend option of the regular and direct plan(s) as on the record date will be eligible for the dividend, subject to the availability of distributable surplus and may be lower to the extent of distributable surplus available as on the record date. Pursuant to payment of dividend, the NAV of the dividend option(s) of the scheme/plan(s) would fall to the extent of payout and statutory levy, if any. The NAV of the scheme under the regular plan – dividend option and direct plan- dividend option stood at Rs. 10.6816 per unit and Rs. 10.7664 per unit respectively as on June 9, 2017.
“When we launched the Mahindra Mutual Fund Dhan Sanchay Yojana we had many investors who chose the dividend option while taking a balanced risk in their portfolio. The rising markets over the last few months offered us an opportunity so we have acted with promptness to give such investors an income by way of a dividend. Even in the future we will continue to look for such opportunities.” said Ashutosh Bishnoi, CEO and Managing Director, MAMCPL.
Mahindra Mutual Fund Dhan Sanchay Yojana seeks to generate long term capital appreciation and also income through investments in equity and equity related instruments, arbitrage opportunities and investments in debt and money market instruments. However, there can be no assurance that the investment objective of the scheme will be achieved. The scheme does not assure or guarantee any returns.
About Mahindra Mutual Fund
Mahindra Asset Management Company Private Limited, a company incorporated under the Companies Act, 1956, is the Investment Manager for Mahindra Mutual Fund. It is a wholly owned subsidiary of Mahindra and Mahindra Financial Services Limited (MMFSL).
Mahindra Mutual Fund endeavors to offer a variety of mutual fund schemes pan-India, with special focus in rural and semi-urban areas.
Statutory Details: Mahindra Mutual Fund has been constituted as a Trust under the Indian Trusts Act, 1882. Sponsor: Mahindra & Mahindra Financial Services Limited. (liability of Sponsor limited to Rs. 1,00,000/-) Trustee: Mahindra Trustee Company Private Limited. Investment Manager: Mahindra Asset Management Company Private Limited. The Sponsor, Trustee and Investment Manager are incorporated under the Companies Act, 1956.
About Mahindra & Mahindra Financial Services Limited
Mahindra & Mahindra Financial Services Limited (Mahindra Finance), part of the Mahindra Group, is one of India’s leading non-banking finance companies. Focused on the rural and semi-urban sector, the Company has over 4 million customers and has an AUM of over USD 6 billion. The Company is a leading vehicle and tractor financier and also offers fixed deposits and loans to SMEs. The Company has over 1,100 offices across the country and is the first Non Banking Finance Company from India to form a part of Dow Jones Sustainability Index.
The Company has a Joint Venture in the US, Mahindra Finance USA, in partnership with De Lage Landen, a subsidiary of Rabo Bank, for financing Mahindra tractors in US.
The Company’s Insurance Broking subsidiary, Mahindra Insurance Brokers Limited (MIBL), is a licensed Composite Broker providing Direct and Reinsurance broking services.
Mahindra Rural Housing Finance Limited (MRHFL) a subsidiary of Mahindra Finance provides loans for purchase, renovation, construction of houses to individuals in the rural areas of the country.
About Mahindra
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 17.8 billion multinational group based in Mumbai, India, Mahindra provides employment opportunities to over 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2015, Mahindra & Mahindra was recognized as the Best Company for CSR in India in a study by the Economic Times. In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world’s largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category in 2013.
Visit us at www.mahindra.com