SBI Mutual Fund’s dividend yield fund has managed to garner nearly ₹3,600 crore through its new fund offer that closed on March 6, reported Business Line.
With this, the fund house commands over 25 per cent share, the largest in the dividend yield category, with a total AUM of ₹13,844 crore.
The fund house recorded a solid growth due to promotion through strong promotion in regional languages, with about 1.23 lakh applications received from 70 per cent of PIN codes in the country and about 40,000 new PAN registrations.
SBI Mutual Fund believes that the category has a lot of potential and dividend yield funds should be part of an investor’s portfolio.
The fund will reopen for subscriptions on Friday.