Religare Mutual Fund has announced the introduction of daily dividend option under Institutional Plan of Religare Credit Opportunities Fund, with effect from June 27, 2011. The daily dividend option will offer re-investment facility only. Under daily dividend option, investors can subscribe the units at Rs 10 per unit on effective date and at NAV based prices thereafter on all business days.
The minimum amount for subscription will be Rs 1 crore and in multiples of Rs 1 thereafter for fresh purchase and Rs 1 lakh and in multiples of Rs 1 thereafter for additional purchase.
After the introduction of Daily Dividend Option, Religare Credit Opportunities Fund – Institutional Plan will offer Daily Dividend Option, Monthly Dividend Option and Growth Option