SBI MF announces 25% dividend on Magnum Midcap

New Delhi, Aug 23 (UNI) SBI Mutual Fund today announced a dividend of 25 per cent on its Magnum Midcap Fund, an open-ended diversified equity scheme.

SBI MF would be paying a dividend Rs 2.50 per unit on a face value of Rs 10 per unit. The record date for the scheme is August 28.

The objective of Magnum Midcap Fund is to provide investors with opportunities for long-term growth in capital along with the liquidity of an open-ended scheme by investing predominantly in a well-diversified basket of equity stocks of companies whose market capitalization is between Rs 200 crores to Rs 2000 crores and in debt and money market instruments.

SBI MF is currently managing assets amounting to over Rs 13,400 crores.

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