SBI Mutual Fund has announced a dividend of 50% in SBI Magnum Global Fund (open ended equity diversified scheme). The record date for dividend is March 12, 2010.

For nearly six months now, Indian mutual funds have been selling more shares than they have been buying, as they grapple with weak inflows into their schemes. This is in stark contrast to peers like foreign institutional investors (FIIs) and local insurance firms, which have been net buyers during this period. Mutual fund watchers say unless the distribution issues are sorted out and retail investor confidence improves, inflows are unlikely to improve anytime soon.