SBI MF's 35 pc div on its Umbrella-Contra Fund

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

SBI Mutual Fund on Friday said it has declared a dividend of 35 per cent for its Umbrella-Contra Fund under the dividend option plan.

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