Taurus Mutual Fund today declared a 10% dividend under its Taurus Tax Shield, an open-ended Equity Linked Savings Scheme (ELSS). The record date for the dividend payout is January 23, 2009. All investors under dividend option of Taurus Tax Shield, whose names appear on the scheme books as on the record date, are eligible to get dividend.

Mr. Waqar Naqvi, CEO, Taurus Mutual Fund said Its been our endeavor to act in the best interest of our investors and thus the trustees are glad to announce a dividend of Re. 1.00 per unit (10%) under Taurus Tax Shield.

Taurus Tax Shield is an open-ended ELSS with an objective to provide long term capital growth through investments across all market capitalisations, including small, mid and large cap stocks. The fund aims to be predominantly invested in equity and equity related securities.

Along with, giving investments to the potential growth of equities, it also gives the added advantage of tax savings under section 80C of the Income Tax Act and personal accident death insurance cover. The scheme has a 3-year lock-in-period from the date of allotment and charges no entry load on direct application.

Taurus Tax Shield has outperformed benchmark index BSE 200 and judged as the second best performing fund by Value Research.

The scheme also has the facility of SIP (Systematic Investment Plan) offered to its investors to counter volatility and invest regularly to benefit from the growth. Current Net Asset Value (NAV) of the fund is Rs. 14.84.