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Templeton Mutual Fund dividends

Our Bureau

MUMBAI, May 28

TEMPLETON Mutual Fund has declared a tax-free dividend of 20 paise per unit of Rs. 10 under the dividend plan of Templeton India Income Fund and 22.5 paise (2.25 per cent) per unit under the dividend plan of the Templeton India Government Securities Fund for the period ending May 24, 2000. The dividend is paid out for a period of 70 days for both TIIF and TGSF.

According to a statement, Templeton Mutual Fund has also declared a tax-free dividend of 0.70 per cent on the face value of Rs. 10 under the monthly dividend option of Templeton Monthly Income Plan (TMIP) for the month ended May 25, 2000. The dividend is paid out for a period of 30 days.

TIIF has generated an annualised return of 14.34 per cent since inception in June 1999 (under the dividend plan). The assets under management in the fund are Rs. 975.83 crores as of May 24, 2000.

TGSF has provided an annualised return of 17.02 per cent since inception (under the dividend plan) since its inception in June 1999. TGSF is a Gilt Fund with assets under management of Rs. 322.02 crores as of May 24, 2000.

Templeton has Rs. 1,819.48 crores as assets under management as of May 24, 2000. The company has grown by over 700 per cent since March 31, 1999 the statement said.