SBI Magnum Sector Umbrella IT Fund announces 50 per cent dividend
July 3rd, 2007
SBI Mutual Fund’s technology fund – the SBI Magnum Sector Umbrella IT Fund has announced a dividend of 50% (i.e Rs. 5 on the face value of Rs. 10/- per unit) for the Dividend option of the fund. July 4, 2007 will be take as the record date for the dividend.
The scheme is an open ended growth scheme. The objective of the scheme is to seek and provide maximum growth opportunities through investments in IT stocks. Popular as Magnum IT, the scheme is managed by Jayesh Shroff since October 2006.
The scheme is one of the hottest schemes in IT sectorial-oriented mutual funds and competes head-on with DSPML Technology.com, ICICI Prudential Technology, UTI Software, Kotak Tech amongst others.
Entry Filed under: Mutual Funds, SBI Mutual Fund, Fund Houses & AMCs
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