The Principal Mutual fund has approved the declaration of dividend under the dividend option of Principal Balanced Fund and Principal Income Fund- Institutional Plan. The record date for the dividend declaration of both schemes has been fixed as 5 November 2007.The fund house has proposed to distribute a dividend of 60% i.e. Rs 6 per unit on the face value of Rs 10 each for Principal Balanced Fund. The fund house has also proposed to distribute a dividend of 0.5% i.e. Rs 0.05 per unit on the face of Rs 10 each for Principal Income Fund- Institutional Plan.
The NAV of Principal Balanced Fund was at Rs. 23.63 as on 30 October 2007 whereas the NAV of Principal Income Fund- Institutional Plan was at Rs. 11.4947 as on 30 October 2007.
Principal Balanced Fund is an open-ended scheme. The investment objective of the scheme is to provide long-term appreciation and current income by investing in a portfolio of equity and equity related securities and fixed income securities.
Principal Income Fund- Institutional Plan is open-ended income scheme. The investment objective of the scheme is to generate regular income and capital appreciation/accretion through investment in debt instruments and related securities besides preservation of capital.
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