SBI Mutual Fund has announced a dividend of 40% in SBI Magnum Taxgain Scheme 1993 (open-ended equity linked savings scheme). The record date for dividend is March 5, 2010.

The average assets under management, or AAUM, of the Indian Mutual Fund (MF) industry - declared so far - grew around 3% month-on-month in February 2010 on the back of short-term institutional fund flows. The 31 fund houses which have declared their AAUM numbers so far have reported gross AAUM of close to Rs 5,75,233 crore against Rs 5,56,858 crore in January 2010.