SBI Mutual Fund has announced 60 per cent dividend under dividend payout option of scheme named as "SBI Magnum Equity Fund" on the face value of Rs 10 per unit.
The record date for the dividend is April 24. The latest NAV of the scheme is Rs 38.06.
The investment objective of the open ended equity diversified 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.
The performance of the scheme was benchmarked against NSE Index. R Srinivasan is the fund manager of the scheme.