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Wednesday, March 23, 2011

dividend under 2 funds - SBI Mutual Fund

dividend under 2 funds - SBI Mutual Fund : SBI Mutual Fund has declared a dividend of 22% (Rs. 2.20 per unit on Face Value of Rs.10) under the dividend option of SBI Magnum Balanced Fund and a dividend of 25% (Rs. 2.50 per unit on Face Value of Rs.10) under the dividend option SBI Magnum Emerging Businesses Fund. The record date for dividend has been fixed as March 28, 2011.

All investors registered under the dividend plan of the above funds as on March 28, will receive this dividend. The NAV of the schemes under the dividend option as on March 21, 2011 was Rs 25.62 and Rs 16.55 respectively.

SBI Magnum Balanced Fund is an open ended balanced fund. The objective is to provide 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.

SBI Magnum Emerging Businesses Fund is an open ended equity fund. The objective is to participate in the growth potential presented by various companies that are considered emergent and have export orientation / outsourcing opportunities or are globally competitive by investing in the stocks representing such companies. The fund may also evaluate emerging businesses with growth potential and domestic focus. source www.moneycontrol.com... For the latest updates PRESS CTR + D or visit Stock Market news Today

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