SBI Mutual Fund has mobilised about ₹3,600 crore through its New Fund Offer, SBI Dividend Yield Fund, which closed on March 6.
With this, the fund house commands over 25 per cent share, the largest in the dividend yield category, with total AUM of ₹13,844 crore.
The fund house recorded a solid growth due to promotion through the 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 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.