SBI Mutual Fund has collected close to Rs.3,600 crore during the NFO of SBI Dividend Yield Fund.
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 attributes this to 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.
