JP Morgan Mutual Fund has declared dividend under the dividend option of JP Morgan India Alpha Fund. The record date is set as 30 March 2009.
The fund house has decided to distribute gross dividend of 2.50% i.e. Rs 0.25 per unit on the face value of Rs 10 per unit as dividend on record date. The unit NAV as on 23 March 2009 was Rs 10.407 per unit.
The investment objective of the scheme is to achieve a total return in excess of the return on short-term instruments through various strategies of buying and selling equity and equity-linked securities including derivatives. The strategies would be designed to minimise market exposure for investors with a medium to long-term horizon.