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PNB Debt cheers Investors with dividend

PNB Debt fund has declared a dividend of 5 percent in its Income Option. The record date for the same is June 23, 2001. With the current payout, the aggregate dividend doled out by the fund stands at 18 percent since launch in June 1999.

The open-ended debt fund made an aggressive start, with a gilt heavy portfolio and has an average 80% allocation to longer dated government securities throughout. With this stance, the fund has steered clear on the liquidity and default risk parameters, while still facing interst rate risk.

Backed by this aggressive strategy, PNB Debt fund has given a return of 15.96%, in the one year ending May 2001, against a category average return of 11.94% over the same period.