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SBI Mutual Fund has launched SBI Dividend Yield Fund, an open-ended equity scheme investing predominantly in equity of dividend yielding companies. The first-tier benchmark of the fund is the NIFTY 500 TRI.
The scheme will consider dividend-paying stocks that have paid dividends or repurchased shares in at least one of the previous three fiscal years.
DP Singh, Deputy MD and Chief Business Officer, SBI Mutual Fund, said, "High dividend yield companies are generally thought of only from the angle of providing regular income but many of them are strong growth-oriented businesses across market cap with the potential of long-term wealth creation. Those who invest in direct equity, investors wanting long term wealth creation and even first-time mutual fund investors will find this fund suitable. Investors who want regular income, can use the SWP (A) facility offered in this fund to plan regular tax efficient cash flows.’’
Rohit Shimpi, and Mohit Jain will co-manage the scheme.
