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SBI Mutual Fund (MF) has launched SBI Dividend Yield Fund, an open-ended equity scheme investing predominantly in dividend yielding stocks. The NFO opens for subscription on February 20, 2023 and closes on March 06, 2023. The Entry load is not applicable for the scheme. The Exit load is nil - if units purchased or switched in from another scheme of the Fund are redeemed or switched out upto 10% of the units (the limit) purchased or switched on or before 1 year from the date of allotment, an exit load of 1% of the applicable NAV - if units purchased or switched in from another scheme of the Fund are redeemed or switched out in excess of the limit on or before 1 year from the date of allotment and no exit load is applicable - if units purchased or switched in from another scheme of the Fund are redeemed or switched out after 1 year from the date of allotment. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.

The performance of the scheme will be benchmarked against NIFTY 500 TRI and its fund managers are Rohit Shimpi and Mohit Jain.

The investment objective of the scheme is to provide investors with opportunities for capital appreciation and/or dividend distribution by investing predominantly in a well-diversified portfolio of equity and equity related instruments of dividend yielding companies.