New Delhi, March 27, 2015: Sahara Mutual Fund has declared Rs 2.50 per unit dividend under Sahara Tax Gain Fund. The Dividend is Tax Free in the hands of the investors. The record date for the purpose of dividend payout is 31/03/2015.
All the unit holders/ beneficial owners under the respective Dividend Option and Dividend Direct options of the scheme whose name appears in the register of unit holders maintained by the Mutual Fund /Statement of beneficial ownership maintained by the Depositories as applicable, as at the close of business hours on the record date are entitled to dividend, subject to availability of distributable surplus under the scheme. Further, as per the revised Scheme features, existing unit-holders under the Re-investment Option, dividend declared will be compulsorily paid out/credited to the bank account of the 1st unit-holders, instead of being reinvested.
Past performance may or may not be sustained in future. Pursuant to the payment of dividend, the NAV of Dividend Option and Dividend Direct 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 Indian Economy is transforming itself rapidly to follow the path of higher economic growth. This would translate into more vibrant Indian capital market and exciting opportunity for quality stocks. Sahara Tax Gain Fund has a proven track record and has consistently rewarded its unit-holders.
Sahara Tax Gain Fund is an Open-Ended Equity Linked Savings Scheme (ELSS) that not only helps one save tax under Section 80C of the Income Tax Act, 1961 but also has the potential of long term growth through investments in equities. The portfolio is well diversified having an optimum number of quality stocks. The face value is Rs. 10/- per unit. The NAV of Sahara Tax Gain Fund as on 26.03.2015 is Rs. 15.9000 under Dividend Option & Rs. 16.0005 under Dividend Direct Option.