Sahara Banking & Financial Services Fund declares Tax-Free Dividend of Rs.2.50

Sahara Mutual Fund has declared Rs 2.50 per unit dividend under Sahara Banking & Financial Services Fund. The Dividend is Tax Free in the hands of the investors. The record date for the purpose of dividend payout is 18th January 2013. All such investors/beneficial owners under dividend option of Sahara Banking & Financial Services Fund whose name appear in the register of the unit holder's book as on the record date, would be eligible for the dividend. The re-investment in units of the dividend amount, if opted for re-investment will be done on the day immediately after the record date at ex-dividend NAV of record date. Past performance may or may not be sustained in future. Pursuant to the payment of dividend, the NAV of the dividend option of the scheme will fall to the extent of payout and statutory levy, if any.

Announcing the dividend, Mr. Naresh Kumar Garg, CEO, Sahara Mutual Fund, mentioned that the Sahara Banking & Financial Services Fund has performed exceedingly well since its inception. Banking Sector is the proxy to Indian economic growth. With the Indian Economy on the high growth path, the Banking & Financial Sector is likely to perform well. This scheme offers an excellent opportunity to the investors to invest in quality portfolio with proven performance record.

Sahara Banking & Financial Services Fund is an Open-Ended Sectoral Growth Scheme that aims to provide long term capital appreciation through investment in equities and equities related securities of companies whose business comprise of banking / financial services, either in whole or in part. The face value is Rs. 10 per unit. NAV as on 14.01.2013 of Dividend option is Rs. 14.9806 and Dividend option Direct is Rs.14.9823.

Source : Equity Bulls

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