SBI Mutual Fund mobilises around Rs. 3,600 crore in the SBI Dividend Yield Fund NFO, becomes largest in the category
New Delhi,March 13, 2023: SBI Mutual Fund, the largest mutual fund house in the country, announced that it had mobilised around Rs. 3,600 crore in its New Fund Offer of SBI Dividend Yield Fund, which opened on Monday, Feb 20, 2023 and closed on Monday, March 6, 2023. With this, the fund house now commands over 25% share, the largest in the Dividend Yield category, which now has a total AUM of Rs. 13,844 crore.
The fund house recorded strong growth on the back of a strong promotion in regional languages, with around 1.23 lakh applications from 70% of pin codes in the country and around 40,000 new investors (new PAN registrations).
The fund house believes that the category has a lot of potential and dividend yield funds should be part of an investor’s portfolio, especially those looking to invest directly in equity or looking for a regular cash flow from dividends.
SBI Dividend Yield Fund will reopen for subscriptions on Friday, March 17, 2023.