SBI MF Declares Dividend

SBI MF declared a dividend of 40% (Rs 4 per unit on face value of Rs 10) in its open-ended Magnum Sector Fund Umbrella - SBI Magnum Contra Fund. The record date for the same is 11 May 2007. The investment objective of the scheme is to invest in undervalued scrips, which may be currently out of favour but are likely to show attractive growth in long term. The last dividend announced by the scheme was of 40% in April 2006.