Edelweiss Mutual Fund has announced 0.4 per cent dividend under dividend payout option of scheme named as “Edelweiss Arbitrage Fund” on the face value of Rs 10 per unit.

The record date for the dividend was August 13. The latest NAV of the scheme is Rs 10.44.

The investment objective of the open ended equity scheme is to generate income by predominantly investing in arbitrage opportunities in the cash and the derivative segments of the equity markets and the arbitrage opportunities available within the derivative segment and by investing the balance in debt and money market instruments.

The performance of the scheme was benchmarked against Nifty 50 Arbitrage. Bhavesh Jain is the fund manager of the scheme.