Religare MF declares 20% dividend in Religare Contra Fund
March 9th, 2010Record Date: March 12, 2010
Mumbai, March 9, 2010: Religare Mutual Fund has announced 20% dividend under the dividend option of Religare Contra Fund (Rs. 2/- per unit on the face value of Rs.10 per unit.) (Dividend declared is subject to availability of distributable surplus and may be lower to the extent of distributable surplus available on record date. Pursuant to payment of dividend, the NAV will fall to the extent of payout and statutory levy, if any. Past performance may or may not be sustained in future. The NAV of the Scheme as on March 5, 2010 under the dividend option stood at Rs. 13.52 per unit.) The record date for dividend is March 12, 2010. All investors under the dividend option, whose names appear on the register of unit holders as on March 12, 2010 would be eligible for dividend.
Religare Contra Fund is an open-ended equity scheme which invests in fundamentally sound companies, which are currently out-of-favour with the overall market but at the same time have unrecognized value. Contrarian approach towards investment is based on the premise of identifying these out-of-favour stocks and move away from the herd mentality, looking for that first mover advantage in these scrips, incase of a turnaround. It involves investing in stocks, which are currently trading at a bargain, as opposed to growth/momentum led approach to stock picking.
Fund Performance as on February 26, 2010
| Period | Religare Contra Fund ^ | BSE 500 @ |
| 1 year* | 115.63% | 101.68% |
| Since Inception* | 13.72% | 9.41% |
* Compounded Annualised. Returns are of Growth Option . @ Benchmark. ^Past performance may or may not be sustained in future.
About Religare Asset Management
With average assets under management of over INR 148 bn ( for February 2010), expertise that extends across equity and fixed income investments, Religare Asset Management offers you a broad range of funds designed to suit your investment needs with an aim to provide best-in-class investment products across asset classes, regions and risk spectrum with high standards of customer service.
Religare Asset Management is promoted by Religare Securities Ltd. – a wholly owned subsidiary of Religare Enterprises Ltd. which is one of India’s leading integrated financial services group offering services ranging from equities, commodities and insurance broking to wealth management, investment banking, portfolio management and personal financial services.
For more information, log on to www.religaremf.com
About Religare Enterprises Limited – http://www.religare.in
Religare is a global financial services group with a presence across Asia, Africa, Middle East, Europe and the Americas. In India, Religare’s largest market, the group offers a wide array of products and services ranging from insurance, asset management, broking and lending solutions to investment banking and wealth management. The group has also pioneered the concept of investments in alternative asset classes such as arts and films. With 10,000 plus employees across multiple geographies, Religare serves over a million clients, including corporates and institutions, high net worth families and individuals, and retail investors. Religare Enterprises Limited is part of a family of companies that fall under the broader Religare brand, which includes other global businesses such as diagnostics, aviation and travel, wellness retail, and IT products and solutions.
Risk Factors: All mutual funds and securities investments are subject to market risks and there can be no assurance that the objective of Scheme will be achieved. Investment in Mutual Fund units involve investment risks such as trading volumes, settlement risk, liquidity risks, default risk including the possible loss of capital. As with any investment in securities, the NAV of the units issued under Scheme may go up or down depending upon the factors and forces affecting the securities markets. Since the Scheme has a contrarian style of investment, it might underperform the markets in scenarios of strong upward or downward cycles. The Scheme seeks to generate returns out of identifying themes and market segments that are likely to outperform in the future. This may or may not happen. Past performance of the Sponsor and its affiliates / AMC / Mutual Fund and its Scheme(s) do not indicate the future performance of the Scheme of the Mutual Fund. Religare Contra Fund, an open ended equity scheme, is only the name of the Scheme and does not in any manner indicate either the quality of the Scheme, its future prospects and returns. Load Structure: Entry Load: Nil Exit Load: In respect of each purchase/switch-in of units, an exit load of 1% is payable if units are redeemed/ switched-out on or before 1 year from the date of allotment. In respect of each purchase/switch-in of units, no exit load is payable if units are redeemed/ switched-out after 1 year from the date of allotment. No Entry/Exit Load will be levied on bonus units and units allotted on reinvestment of dividend. Please read the Scheme Information Document and Statement of Additional Information before investing. Terms of Issue: The units will be available for subscription and redemption on all Business days at applicable NAV, subject to applicable load. Statutory Details: Religare Mutual Fund has been set up as a trust sponsored by Religare Securities Ltd. (liability restricted to Rs. 1,50,000) with Religare Trustee Company Ltd. as the Trustee (Trustee under the Indian Trusts Act, 1882) and with Religare Asset Management Company Ltd. as the Investment Manager.
