Buoyed by bullish sentiment in both equity and debt markets, monthly income plans have doled out dividends under the monthly option. Alliance MIP, which had skipped a pay out for December 2000 has come back strongly with a dividend of 1.5% or 15 paise for January.
In fact, a few MIPs are maintaining 100% investments in debt instruments to avoid the volatility of equity markets. In a short span, fund managers have realised how even a marginal exposure in topsy-turvy equities can mar their dividend paying ability.
Among other MIPs, Sun F&C Mutual Fund has announced a dividend of 0.625 per cent while Templeton has maintained the dividend at 0.6% (6 paise per unit). Reliance, Prudential and Kothari Pioneer MIPs have also paid dividends for last month.
Surprisingly, Birla MIP, which closed its IPO in early November, is yet to declare a payout despite a healthy NAV at Rs 10.32.
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