#1
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I am share holder of State Bank of India so tell me more about the scheme SBI Magnum Tax Gain Scheme an d tell me its benefit?
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#2
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SBI Magnum Tax Gain Scheme is an open ended Equity Scheme born on March 31, 1993. The scheme seeks to distribute income periodically depending on distributable surplus. For investment below 5 crores entry loaded is 2.25%. You are given the advantage of saving tax and at the same time you can invest equities in this fund.
__________________ Answered By StudyChaCha Member |
#4
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SBI Magnum TaxGain is an equity-linked saving scheme (ELSS) that constitutes equity funds in its portfolio. The aim of this fund is to enable investors to avail deduction under Section 80C and also distribute surplus income periodically. Scheme details: i) Inception / Launch date This fund was launched on 31 March 1993 by SBI Funds Management Pvt Ltd ii) Risk level Risk is below average as fund’s performance is driven by the market’s wide fluctuations iii) Redemption Being an ELSS tax saver fund, it can be redeemed after a minimum lock-in period of 3 years, under normal circumstances, the fund house will dispatch the redemption proceeds to the respective bank account within 10 business days from date of receipt of the request. iv) Fund Manager Dinesh Balachandran is an experienced fund manager who has been managing this fund since September 2016 v) Entry / Exit load Exit load for this fund is 0%. However, an expense ratio of 2.11% will be applied every year. Risk Moderately High Min SIP Amount ₹500 Expense Ratio 1.33% Pros and cons: Pros 1. Exit load is zero Cons 1. Risk-adjusted returns are lower compared to the category 2. Risk is higher compared to the benchmark 3. 1Y Returns are lower than the benchmark 4. 3Y Returns are lower than the benchmark 5. 5Y Returns are lower than the benchmark |