SBI Magnum Comma Fund announces 20% dividend

SBI Mutual Fund has declared a dividend of 20% (Rs 2 per unit on face value of Rs 10) in its open-ended equity scheme SBI Magnum Comma Fund. The objective of the scheme is be to generate opportunities for growth along with possibility of consistent returns by investing predominantly in a portfolio of stocks of companies engaged in the commodity business within the following sectors - Oil& Gas, Metals, Materials & Agriculture and in debt & money market instruments. (Check out - Recent MF Dividends )

All investors registered under the dividend option of the scheme as on July 25, 2008 will receive this dividend. The NAV under the dividend plan of the scheme as on July 21, 2008 was Rs 16.39.

The last dividend announced by the scheme was of 15% in November 2006. Over the last one year,  SBI Magnum Comma Fund has yielded negative returns of -6.6% as compared to -12.69% given by its benchmark BSE 200 as on July 21, 2008.