Birla Sun Life Mutual Fund has declared a second dividend in Birla Dividend Yield Plus. The record date for the same is 13 June 2003. All purchases made before 15.30 IST on 13 June 2003 in the Dividend Plan (Plan A) will be eligible to receive dividends declared, if any.

The rate of dividend will be at the discretion of the Trustees and will be subject to availability of distributable surplus.

Within just 4 months of its launch, Birla Dividend Yield Plus has appreciated by 17.10% (based on NAV of Rs. 11.71 of the Growth Plan as on 9 June 2003). The Dividend Plan of BDYP had recently declared its first dividend of 8%. The NAV of the Dividend Plan as on 9 June 2003 was Rs 10.95.

The dividend declared will be completely tax free in the hands of the investor. Also, since the scheme is an equity scheme, there would not be any distribution tax payable by the Fund.

Birla Dividend Yield Plus is an open ended equity diversified scheme. It seek to provide capital growth and income by investing in a well diversified portfolio of dividend producing companies that have a relatively high dividend yield. The scheme offers two options namely growth and dividend.

The minimum investment amount is Rs 5000 and in multiples of Re 1 thereafter. The scheme will not charge any entry load but will levy an exit load of 2% if exited within 1 year.

Birla Sun Life Asset Management Company Limited (Investment Managers for Birla Mutual Fund ) is a joint venture between Aditya Birla Group and Sun Life Financial Services of Canada. Birla Mutual Fund today has emerged as one of India's leading Mutual Fund with over Rs 6,278 crore of assets under management and over 5.75 lacs investor folios.

It offers a spectrum of investment schemes designed to cater to every need of the investor.