Reliance Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit under dividend option in retail & institutional plan of Reliance Interval Fund - Monthly Interval Fund - Series II (debt oriented interval scheme). The record date for dividend has been fixed as 26 February 2010. The quantum of dividend will be 100% of distributable surplus as on the record date.

An innocuous-looking paragraph in a circular issued by market regulator Sebi to intermediaries has put asset management companies (AMCs) in a quandary. The circular, which lists the requirements to prevent money laundering and terrorism financing, has mentioned that no threshold levels or category (class) of investors will exist for implementing know-your-customer (KYC) norms. Fund houses are interpreting this as a step taken by Sebi to tighten KYC norms for those investing less than Rs 50,000, which could also mean permanent account number (PAN) requirements. Until now (till date of the circular), MF investors having microsip (small ticket SIPs) investments of up to Rs 50,000 per financial year need not have PAN.