Press release from Business Wire India
Source: Benchmark Asset Management Company Pvt. Ltd.
Thursday, March 11, 2010 04:48 PM IST (11:18 AM GMT)
Editors: General: People; Business: Banking & financial services, Business services, Financial Analyst, Stock exchanges
--------------------------------------------------
Dividend Declared on the Benchmark S&P CNX 500 Fund
Mumbai, Maharashtra, India, Thursday, March 11, 2010 -- (Business Wire India) -- Benchmark Mutual Fund has declared dividend of Rs. 6.75 per unit on a face value of Rs.10 per unit (NAV per unit on March 10, 2010 was Rs. 18.0305) with a record date of March 15, 2010 in the Dividend Option of Benchmark S&P CNX 500 Fund- An open-ended Index fund.
All unit holders whose names appear in the Register of Unitholders of the Dividend Option of the respective Scheme as at the close of business hours on the abovementioned Record Date shall be eligible to receive the dividend.
Pursuant to the payment of dividend, the NAV of the Scheme (Dividend Option) will fall to the extent of payout and statutory levy (if applicable).
The investment objective of this Scheme is to generate capital appreciation by investing in securities that constitute the S&P CNX 500 index in the same proportion as in the index. These 500 stocks cover more 90% of market capitalization of NSE. The Scheme is benchmarked to S&P CNX 500 index.
This Scheme is an ideal fund for an investor who wants to keep his equity investments simple and efficient. This single investment gives exposure to Large Cap, Mid Cap and Small cap stocks. In developed markets like US such funds are treated as default core holding of any portfolio whether large or small.
With the aim of enhancing the returns for the regular investor, Benchmark has introduced Value averaging Investment Plan (VIP)-a new and intelligent investment strategy compared to Systematic Investment Plan (SIP). This has been introduced for the first time in India.
The unique feature is that unlike SIP where your monthly investment amount is fixed, your investment under VIP is flexible and it invests large amounts when markets are down and less amounts when markets are up and in most scenarios offers high return, low acquisition costs, low portfolio volatility compared to SIP. Currently this option is available only in Benchmark S&P CNX 500 Fund and is first of its kind in India.
Benchmark Mutual Fund is the only fund house in India with focus exclusively on passive investment philosophy and introduced many innovative product offerings in the Index fund category including the Exchange Traded Funds (ETFs). Also currently it is the largest player in the same space.
Statutory Details: Benchmark Mutual Fund has been set up as a Trust by Niche Financial Services Pvt. Ltd. with Benchmark Trustee Company Pvt. Ltd. as the Trustee (Trustee under the Indian Trust Act, 1882) and Benchmark Asset Management Company Pvt. Ltd. as the Investment Manager.
Minimum Application Amount: Rs. 10,000/- (Rupees Ten Thousand Only) and in multiples of Re.1/- thereafter, in an Option of the Scheme
SIP (Systematic Investment Plan):The minimum amount for each installment is Rs.1,000/- and in multiples of Re.1/- thereafter and minimum number of installments for SIP will be 12. Please refer to the SIP Enrolment Form for terms & conditions before enrolment
VIP (Value Averaging Investment Plan): The Scheme also offers Value averaging Investment Plan (VIP).
Asset Allocation: Securities constituting S&P CNX 500 and derivatives on the securities constituting S&P CNX 500 - 90%-100%, Money Market Instruments, G-Secs, Bonds, Debentures and Cash at call - 0%-10%.
Options: (i) Growth & (ii) Dividend with a) Dividend Payout b) Dividend Reinvestment.
Load Structure Entry Load(For Regular Investment SIP and VIP):Nil.; Exit Load: Redeemed within 1 year from date of allotment - 1.50%.;Redeemed after 1 year but, within 2 years from the date of allotment - 1.00%.; Redeemed after 2 years but within 3 years from the date of allotment - 0.50%.; Redeemed after 3 years from the date of allotment - Nil.
Load Structure w.e.f March 12, 2010: Entry Load:Nil.; Exit Load:Redeemed within 1 year from date of allotment - 1.50%.;Redeemed after 1 year from the date of allotment - Nil.
Issue Of Units: Units will be issued at NAV based price
Risk Factors pertaining to VIP : . As the monthly investment amount is variable, it would be difficult for the investors to manage their cash flows. . If the market moves in one direction i.e. either up or down, VIP may generate less return compared to SIP. . If the NAV of the Scheme continuously decreases, the absolute loss to the investor would be more than what the investor would have incurred by investing in SIP.
Risk Factors: . All Mutual funds and securities investments are subject to market risks and there can be no assurance or guarantee that the objective of the Scheme will be achieved. . As with any investment in securities, the Net Asset Value (NAV) of the units issued under the Scheme can go up or down depending on the factors and forces affecting the securities market . Past performance of the Sponsors/Investment Manager/Mutual Fund and its affiliates does not indicate the future performance of the Scheme and may not provide a basis of comparison with other investments. . Benchmark S&P CNX 500 Fund is the name of the Scheme and does not in any manner indicate either the quality of the Scheme or its future prospects and the returns. Investors are therefore urged to study the terms of offer carefully and consult their Investment Advisor before they invest in the Scheme. . The Sponsor is not responsible or liable for any loss or shortfall resulting from the operation of the Scheme beyond the initial contribution made by it of an amount of Rs. 1 Lac towards setting up of the Mutual Fund. . The present Scheme is not a guaranteed or assured return Scheme. . The Scheme's NAV will react to the stock market movements. The Investor could lose money over short periods due to fluctuation in the Scheme's NAV in response to factors such as economic and political developments, changes in interest rates and perceived trends in stock and securities prices, market movements, and over longer periods during market downturns. . The Scheme is required to have (i) minimum 20 investors and (ii) no single investor holding>25% of corpus. If the aforesaid point (i) is not fulfilled within the prescribed time, the Scheme will be wound up and in case of breach of the aforesaid point (ii) at the end of the prescribed period, the investor's holding in excess of 25% of the corpus will be redeemed as per SEBI guidelines. . "S&P®" and "Standard and Poor's®" are trademarks of the McGraw-hill Companies, Inc. ("S&P"), and have been licensed for use by India Index Services & Products Limited in connection with the S&P CNX 500 Index. The Product is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited ("IISL") or Standard & Poor's, a division of The McGraw-Hill Companies, Inc. ("S&P"). Neither IISL nor S&P makes any representation or warranty, express or implied, to the owners of the Product or any member of the public regarding the advisability of investing in securities generally or in the Product. Please read the full Disclaimers in relation to the S&P CNX 500 Index in the Scheme Information Document (SID) before Investing. For Scheme specific risk factors please refer the SID.
SID, Key Information Memorandum and application form are available at the office of AMC, Registrar and Transfer Agent , Distributors or can be downloaded from www.benchmarkfunds.com.
Please read the SID & Statement of Additional Information (SAI) carefully before investing.
For more information visit www.benchmarkfunds.com
CONTACT DETAILS
Gaurav Agrawal, Benchmark Asset Management Company Pvt. Ltd., +91 9930330451, gaurav.agrawal@benchmarkfunds.com
KEYWORDS
PEOPLE, BANKING, BUSINESS SERVICES, Financial Analyst, STOCK EXCHANGES
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
No comments:
Post a Comment