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Sundaram Bond Saver to pay 25 paise/unit

Our Bureau

CHENNAI, Jan. 4

SUNDARAM Bond Saver, the flagship income scheme of Sundaram Mutual Fund, has ``announced its intention to declare a 2.5 per cent dividend,'' or 25 paise per unit. This is the fifth dividend the scheme is paying since January 2000. The total dividend paid through the calender year 2000 works out to 12.5 per cent.

To ensure that the scheme maintains a ``quality portfolio,'' it invests only in those bonds that are rated `AA' and above, Mr T.P. Raman, Managing Director, Sundaram Newton Asset Management Company, has said in a press release.

The AMC is a joint venture between the Chennai-based Sundaram Finance Ltd and Newton Investment Management Ltd of UK.