Mumbai: SBI Mutual Fund has declared a dividend of 7 per cent under the Magnum Income Fund (a 100-per cent debt fund), investing in high-quality debt instruments for the period ended 7 March 2002.
 The effective annualised dividend for this open-ended fund for the year is 14 per cent. The record date for the dividend payout is 7 March 2002. All investors who have invested in the scheme as on 7 March 2002 are eligible for the dividend payment.
The investment strategies followed by the fund management team for this fund include:
* Safety first
* Superior returns consistent with highest degree of safety
* Invests in securities with a credit rating of AA and above. Currently G-Sec and AAA constitute 91 per cent
* Active funds management.
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