SBI Mutual Fund has announced the introduction of new plans in two of its existing schemes. A weekly dividend option would be introduced under Magnum Floating Rate Short Term Plan. Magnum Institutional Income Savings would introduce weekly and fortnightly dividend options.
The above mentioned dividend options would provide the facility of payout and reinvestment of dividend. The payout would be available for only such investors who have a minimum investment of atleast Rs 1 crore. All other features would remain unchanged. The above changes would come into effect from November 25, 2004.
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