Tata Mutual Fund has announced 0.11 per cent dividend under dividend payout option of scheme named as "Tata Floating Rate Fund - Long Term - Regular Plan" on the face value of Rs 1000 per unit.
The record date for the dividend was August 19. The latest NAV of the scheme is Rs 1018.33.
The investment objective of the open ended debt scheme is to generate stable returns with a low risk strategy by creating a portfolio that is substantially invested in good quality floating rate debt or money market instruments, fixed rate debt or money market instruments swapped for floating returns and fixed rate debt and money market instruments.
The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Amit Somani is the fund manager of the scheme.