Birla Dividend Yield Plus lives up to its name. Literally! By its objective, the fund invests in stocks which earn high dividend, and when it comes to its own investors, the fund does not hesitate in distributing dividends.
In a short span of two-and-a-half years of its existence after its launch in February 2003, the fund has declared as many as 11 dividends. This is the highest number of dividends declared by any diversified equity fund during the same period. Interestingly, six of these came in the year 2003, the first year of its existence.
Although the amounts of dividend declared have not been very high if we compare them with the dividend pay-outs of some other equity funds, the frequency is certainly quite high.
In a mutual fund, it does not matter how many dividends get declared, as it is just a part of your returns given to you, and not something extra that you get. But a track record of frequent dividend might just help the fund to project itself as a 'dividend yield' fund.
After Birla Dividend Yield Plus, it is Tata Equity Opportunities Fund, which has declared 9 dividends in the same period. Surprisingly, this fund is also quite young, and was also launched around the same time as Birla Dividend Yield Plus.
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