Dividend policy of listed fund Kingfish has been changed and now 8% of the fund's average net asset value to shareholders would be distributed each year.

A big jump on the 3c dividend paid for the year ending March 31 has been indicated by the change, which means investors in the Fish Funds-managed fund would get about 8c a year.

The distribution would be made quarterly by Kingfish and for the investors who don't want the cash, would be given a distribution reinvestment programme. These distributions will be tax-free to the majority of Kingfish shareholders, as a listed PIE.

Fisher Funds managing director Carmel Fisher says for those who are seeking the opportunity to take some short-term return from their investment while preserving the longer term focus of the fund the policy has been introduces.

It should be noted that Kingfish fund is invested in New Zealand growth shares.