Religare Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit under dividend option of Religare Banking Fund (open ended banking sector scheme). The record date for dividend has been fixed as 29 January 2010. The fund house has decided to distribute dividend of 25% subject to availability of distributable surplus as on the record date.

Reality firm DLF on Saturday said it has sold its entire 39 per cent stake in mutual fund joint venture DLF Pramerica Asset Managers to partner Prudential Finance as its participation is not in conformity with SEBI's modified guidelines. "DLF's decision to exit from this area of business was triggered due to changes by SEBI in its evaluation criteria for getting approval to the joint venture mutual fund to commence its business," a release said in New Delhi.

It's been more than a month since mutual funds (MF) were made available on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). However, the size of transactions have been low till date. The average value of subscription at the NSE and BSE have been Rs11.03 lakh and Rs26.27 lakh, respectively.