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Difference in NAVs

Sanjeev Malhotra has questions about the difference in NAVs between the two options of his funds

I have a regular monthly SIP for Franklin India Flexi Cap-Dividend option and DSPBR Equity-Dividend option. How come the reported NAVs of the growth and dividend option differ in percentage terms with respect to their 52 week highs and 52 week lows? In case of Franklin India Flexi Cap, the growth option has fallen less than its dividend option in percentage terms from its 52 week high. What is the reason for a difference here when this difference is not there in DSPBR Equity's dividend and growth options? I understand that when dividend is paid by a mutual fund, its NAV falls but the fall in their NAVs from their 52 week highs should be the same in percentage terms.
- Sanjeev Malhotra

The reason for this difference is that Franklin India Flexi Cap Fund has given a dividend on March 12, 2008 which is after its 52 week high date, February 15, 2008. The dividend has been factored here and so you can see that the dividend option of the fund has fallen more than the growth option in percentage terms.

On the other hand, DSP Black Rock Equity Fund had given its last dividend before its 52 week high date, which is why you cannot see any difference (in percentage terms) in the dividend and growth option here.



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