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Tuesday, June 30, 2009

Religare Banking Fund announces dividend

Record date for dividend is 3 July 2009

Religare Mutual Fund has approved to declare dividend under dividend option of retail plan of Religare Banking Fund, an open ended banking sector fund. The record date of dividend distribution is 3 July 2009.

The quantum of dividend will be 7.50% i.e. Re 0.75 per unit on face value of Rs 10.00 per unit. The NAV of the retail plan recorded at Rs 12.48 per unit and as on 26 June 2009.

The fund was launched in May 2008. The investment objective of the scheme is to generate long-term capital growth from a portfolio of equity and equity-related securities of companies engaged in the business of banking and financial services.

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