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Sun F&C declares dividend on income schemes

Capital Market Bureau

Sun F&C Mutual Fund has declared dividend for its income schemes. For the Sun F&C Monthly Income Plan, a dividend of 0.75 per cent (Re. 0.0750 per unit of face value of Rs. 10) has been declared in the monthly dividend plan, for which the record date is 25 November 2002.

Sun F&C Mutual Fund has also declared daily dividend under the Sun F&C Money Value Fund (Liquid Option) - Daily Dividend Plan.

The total dividend declared for the week ended 21 November was 0.089255 per cent (or Re. 0.0089255 per unit on face value of Rs. 10) under the Daily Dividend Plan.

Sun F&C Monthly Income Plan is an open-end income scheme and endeavours to generate regular income (monthly/quarterly distribution) and growth of capital, but with no assured monthly return. The scheme aims at generating income by investing mainly in debt and money market instruments with a limited exposure to equities (up to 15 per cent of net assets).

As of 21 November 2002, however, the exposure to equity is only 6.72 per cent of the total portfolio.

Sun F&C Money Value Fund is a dual option open-ended income scheme. The scheme has a bond option and a liquid option.

The liquid option offers normal plan (capital appreciation plan), dividend plan and daily dividend plan. The scheme principally invests in call money and short-term debt instruments including MIBOR-linked debentures.

Sun F&C is a part of the group that manages the world's oldest investment trust. Over the last seven years, Sun F&C has built a strong track record of managing both kinds of asset classes-equity and debt.

Sun F&C currently manages / advises ten domestic Schemes and one offshore fund, by a team of around 55 people spread over 10 locations servicing over 70,000 customers across the country.

Sun F&C expects to increase this investor base substantially within the next two years. Sun F&C's primary objective is to create one of India's leading asset management organisations through an uncompromising focus on quality in all aspects of product innovation, investment management and investment execution.

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