HDFC Mutual Fund has decided to discontinue the Monthly Dividend Option offered under wholesale and retail plan in HDFC Arbitrage Fund with effect from 6 April 2009. The dividend option under the scheme currently offers monthly and quarterly options with payout and reinvestment facility. Accordingly, effective 6 April 2009 dividend option under the scheme shall only provide quarterly dividend option with payout and reinvestment facility.
Existing unit holders under monthly dividend option will automatically be covered under quarterly dividend option from the effective date. HDFC Arbitrage Fund is an open ended equity fund, the objective of the scheme is to generate income through arbitrage opportunities between cash and derivative market and arbitrage opportunities within the derivative segment and by deployment of surplus cash in debt securities and money market instruments
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