SBI MF's 35 pc div on its Magnum Funds Umbrella: Contra Fund

MUMBAI: SBI Mutual Fund today said it has declared a dividend of 35 per cent for its Magnum Sector Funds Umbrella-Contra Fund under the dividend option plan.

The record date has been fixed at August 13 (Friday), a press release issued here stated.

"We are happy to announce a 35 per cent dividend under this scheme and we hope to maintain this consistency. The funds' investments are guided primarily by the long-term fundamentals without giving too much emphasis on liquidity and sentiments. Magnum Contra Fund offers the investor a possibility to invest in growth scrips of the future," SBI Mutual Fund's CIO, Navneet Munot, said.