JM Financial Mutual Fund has announced 0.65 per cent dividend under dividend payout option of scheme named as "JM Arbitrage Advantage Fund" on the face value of Rs 10 per unit.
The record date for the dividend was August 24. The latest NAV of the scheme is Rs 10.42.
The investment objective of the open ended equity diversified scheme is to generate income through arbitrage opportunities emerging out of mis-pricing between the cash market and the derivatives market and through deployment of surplus cash in fixed income instruments.
The performance of the scheme was benchmarked against Crisil Liquid Fund Index. Chaitanya Choksi is the fund manager of the scheme.