SBI Magnum Equity Fund declares 50 percent dividend

Mumbai: SBI Mutual Fund has declared a dividend of 50 percent in its open-ended equity scheme - SBI Magnum Equity Fund and the quantum of dividend on a face value of 10 is 5 per unit. The record date for dividend is December 31, 2009. All unit holders registered under the dividend option of the scheme as on December 31, 2009 will be eligible for this dividend. The Net Asset Value (NAV) of the scheme under dividend option as on December 24, 2009 was 33.98. SBI Magnum Equity Fund is an open ended equity scheme. The objective of the scheme 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 balanced in debt and money market instruments.