UTI-MNC Fund, an open-ended equity scheme, has declared tax-free dividend of 25% (Rs 2.50 per unit on face value of Rs10/-).

Pursuant to the payment of dividend, the NAV of the dividend option of the scheme would fall to the extent of payout and statutory levy if any. The record date for the dividend is July 28, 2008.

UTI-MNC Fund was launched in April 1998. The objective of the scheme is to predominantly invest in equities and equity related instruments of Multinational Corporations and other liquid stocks.

State Bank of India Mutual Fund has declared a dividend of 20 per cent under the dividend option of Magnum COMMA Fund, an open-ended equity scheme.    

Principal Mutual Fund and Bajaj Allianz Financial Distributors have announced their alliance for distribution of Principal Mutual Fund's products.