SBI Dividend Yield Fund will re-open for subscription on March 17, 2023.
New Fund Offer is like an IPO except that IPO is marketed by a company trying to go public whereas NFO is marketed by a mutual fund launching a new scheme.
SBI Mutual Fund on Monday announced that it has raised approximately Rs 3,600 crore in its new fund offer of SBI Dividend Yield Fund.
The NFO was opened on February 20, 2023 and closes on March 6, 2023.
With this the fund house said, it now commands over 25% stake, the largest in the dividend yield category, which now has a total AUM of Rs. 13,844 crores.
New fund offer is a kind IPO (Initial Public Offering) Except that, IPO is marketed by a company that is trying to go public while NFO is marketed by a mutual fund launching a new scheme.
Read also: Withdrawals from debt mutual funds continue, Rs 13,815 crore withdrawn in February
A company statement said the fund house registered strong growth with around 1.23 lakh applications from 70% pin codes in the country and around 40,000 new investors (new PAN registrations) driven by strong promotion in regional languages.
It added that the fund house believes that there is a lot of potential in this category and that dividend yield funds should be a part of an investor’s portfolio, especially those looking to invest directly in equity or seek regular cash flow from dividends. Looking for
SBI Dividend Yield Fund will re-open for subscription on March 17, 2023.
read all latest business news Here
