Reliance Mutual Fund declares dividend for Banking, Pharma & ELSS Funds

Good news for the investors of Reliance Mutual Fund, the ADAG or Anil Dhirubhai Ambani led Reliance Mutual Fund Company.
The mutual fund house has come out with a bonanza offering of dividends for 3 of its funds and the amount of dividend being paid is also big. Here are the details of the dividend declared by the Reliance Mutual Funds:

Reliance Banking Fund: Dividend Amount 20 percent

Reliance Pharma Fund: Dividend Amount 15 percent

Reliance Tax Saver ELSS Fund: Dividend Amount 15 percent

Though in real terms, the value of NAV or Net asset value for each of these funds will drop down by the amount of money paid out in dividends. However, investors will benefit because without paying any exit load charges for these mutual funds, they can get a portion of their invested money back. The best is for the investors of the Reliance Tax Saver ELSS Fund, because the ELSS schemes actually lock in the money of the investors for a period of atleast 3 years. Hence, getting back 15% of this money will be additional benefit, in terms of liquiity