SBI MF announces 40 per cent dividend on Magnum Contra Fund

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Mumbai, Mar 31 (UNI) SBI Mutual Fund (MF) has announced a dividend of 40 per cent on its Magnum Contra Fund, an open-ended diversified equity scheme.

The record date for the scheme has been fixed as April 3.

SBI MF would be paying a dividend Rs 4 per unit on a face value of Rs 10 per unit.

The NAV as on 24th March is 27.15 for the Dividend option and 31.03 for the Growth option.

The objective of Magnum Contra Fund is to invest in undervalued scripts, which may be currently out of favour but are likely to show attractive growth in the long term.

SBI Mutual Fund is one of the largest Mutual Fund in the country.

It is currently managing assets amounting to over Rs 13,400 crore as on 24th March last year.

SBI Mutual Fund has an investor base of over 20 lakh spread over 30 schemes.


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