SBI Mutual Fund has declared a dividend of 50% i.e. Rs 5 per unit on face value of Rs 10 in its open-ended equity diversified scheme - SBI Magnum Equity Fund. The fund house has also declared a dividend of 40% i.e. Rs 4 per unit on face value of Rs 10 on its open ended balanced scheme- SBI Magnum Balanced Fund.The record date for the same has been fixed as 7 November 2007. All investors registered under the dividend option of the scheme as on 7 November 2007 will receive this dividend.
The NAV of SBI Magnum Equity Fund was at Rs. 42.45 as on 31 October 2007 whereas the NAV of SBI Magnum Balanced Fund was at Rs. 35.18 as on 31 October 2007.
SBI Magnum Equity Fund is an open-ended equity scheme; the objective of the scheme is to provide the investor long-term capital appreciation by investing in high growth companies along with the liquidity of an open-ended scheme through investments primarily in equities and the balance in debt and money market instruments.
SBI Magnum Balanced Fund is an open ended balanced scheme, the objective of the scheme is to provide the investors long term capital appreciation along with the liquidity of an open ended scheme by investing in a mix of debt and equity. The scheme will invest in a diversified portfolio of equities of high growth companies and balance the risk through investing the rest in a relatively safe portfolio of debt.
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