SBI MF announces 40 pc dividend for MSFU

New Delhi, May 15: SBI Mutual Fund has approved 40 per cent dividend in Magnum Sector Funds Umbrella (MSFU)-Contra Fund under Dividend Option, for which the record date is tomorrow.

Pursuant to payment of dividend, the Net Asset Value (NAV) of the scheme would fall to the extent of payout and statutory levy, if applicable. Dividend distribution is subject to availability of distributable surplus and statutory levy, if any, a statement said here today.

MSFU-Contra fund is India's first contrarian fund under the flagship of SBI Mutual Fund. All Magnum/Unit Holders of the scheme, whose names appear in records of Registrar of SBI Mutual Fund on the aforesaid record date, will be entitled to receive dividend, the statement added.

UNI