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SBI MF declares dividend in two debt funds

Within six months of kicking off as a short-term debt fund, SBI Magnum Gilt fund has paid a sixth consecutive dividend of 1% (Rs 0.10 per unit) in the monthly option. The record date for the same is June 30, 2001.

The current pay-out is up 20 basis points from the last pay-out of 0.8 per cent in May 2001 and the aggregate payout in the scheme stands at 3.8 per cent till date. Magnum Gilt Fund-Short term has further lengthened its portfolio maturity from 2.33 years to 2.62 years, expecting a rate cut in near future.

Magnum Monthly Income Plan, the recently launched fund in the MIP category paid dividends in its monthly and quarterly options. The record date for both the pay-outs is June 29, 2001. Magnum Monthly IncomePlan-Monthly option paid a third dividend of 0.85% (Rs 0.085 per unit). Along with the earlier pay-outs of 0.4% and 0.61%, the aggregate dividend in the plan stands at 1.86%. The investors in the Magnum Monthly IncomePlan- Quarterly option received a maiden dividend of 2.15% ( Rs 0.215 per unit).