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Magnum Gilt Short-Term plan declares a dividend

A dividend of 0.8 per cent (Rs 0.08 per unit) in the short term plan of the SBI Magnum Gilt Fund will be paid to the unit holders standing on records as on May 31, 2001.

The current pay-out being up 10 basis points from the last pay-out of 0.7 per cent in April 2001, is the fifth in row since the fund's launch in December 2000.

Magnum Gilt Fund is an open-ended short-term gilt fund invested fully in government securities. In its brief span of five months, the fund has attempted to realign its portfolio in line with the interest rate sentiments. In the month of April the fund lengthened its average maturity to 2.33 years from 1.11 years in March 2001.