SBI Magnum Sector Umbrella Contra Fund, an open ended equity scheme, from the stable of SBI Mutual Fund has declared a dividend of 40%. SBI Magnum Sector Umbrella Contra Fund is a fund which invests based on the contrarian investment principle and invests in stocks which are undervalued and trading at cheap valuations but presently out of favour in the market, hoping that the market will soon realise the potential of these fundamentally good stocks.