IDFC Mutual Fund has announced a dividend of 24% and 20% under dividend option of IDFC Premier Equity Fund - Plan A & B respectively (open-ended equity scheme). The record date for dividend has been fixed as March 29, 2010.

Union Bank of India and Belgium's KBC will jointly invest 50 million euros in their planned mutual fund joint venture, the Indian bank's chairman and managing director MV Nair said on Friday. The venture, in which Union Bank will hold 51 per cent stake and KBC the rest, is likely to receive regulatory approval in four to five months, he told reporters at a media briefing.