SBI Dividend Yield Fund will reopen for subscriptions on March 17, 2023.
New Fund Offer is like an IPO besides that, IPO is marketed by an organization making an attempt to go public whereas NFO is marketed by a Mutual Fund to launch a brand new scheme.
SBI Mutual Fund on Monday introduced that it had mobilised round Rs 3,600 crore in its New Fund Offer of SBI Dividend Yield Fund.
The NFO was opened on February 20, 2023 and closed on March 6, 2023.
With this the fund home mentioned, it now instructions over 25% share, the most important within the Dividend Yield class, which now has a complete AUM of Rs. 13,844 crore.
New Fund Offer is like an IPO (Initial Public Offering) besides that, IPO is marketed by an organization making an attempt to go public whereas NFO is marketed by a Mutual Fund to launch a brand new scheme.
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The fund home recorded robust progress on the again of a powerful promotion in regional languages, with round 1.23 lakh functions from 70% of pin codes within the nation and round 40,000 new buyers (new PAN registrations), an organization assertion mentioned.
It added that the fund home believes that the class has lots of potential and dividend yield funds must be a part of an investor’s portfolio, particularly these seeking to make investments immediately in fairness or on the lookout for a daily money move from dividends.
SBI Dividend Yield Fund will reopen for subscriptions on March 17, 2023.
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