SBI Magnum Taxgain Scheme * Return since Launch: 16.23% Invest Now

SBI Magnum Taxgain Scheme Overview

SBI Magnum Taxgain Scheme is an open ended equity fund. This fund managed by Mr. Dinesh Balachandran. This fund was launched on 31st March 1993. The benchmark of this fund is S&P BSE 500 Index. The AUM of this fund is 6218.79 Cr as on 30 Sep 2018. The prime objective of scheme is to deliver the benefit of investment in a portfolio of equity shares, while offering deduction on such investments made in the scheme under section 80C of the Income-tax Act, 1961. It also seeks to distribute income periodically depending on distributable surplus.

Investments in this scheme would be subject to a statutory lock-in of 3 years.

Eligibility for investing in SBI Magnum Taxgain Scheme

• Adult citizens residing in India.
• Minor through legal guardians/parents.
• Limited liability partnership.
• Religious and charitable trusts.
• Banking and financial institutions
• Mutual Funds or Alternative Investment Funds which have registrations under the Securities and Exchange Board of India
• The Karta of Hindu Undivided Family (HUF)
• Persons of Indian origin residing abroad (PIOs) or Non-Resident Indians can apply for subscription either on repatriation basis or on non-repatriation basis (permitted under Schedule 5 of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000)
• Foreign Institutional Investors (FIIs) who have registration under the Securities and Exchange Board of India on repatriation basis (permitted under Schedule 5 of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000)
• Mutual Funds or Alternative Investment Funds which have registrations under the Securities and Exchange Board of India
• Other schemes of Mutual Funds subject to the conditions and limits prescribed by SEBI Regulations.

Documents Required For SBI Magnum Taxgain Scheme

KYC Documents:

• PAN Card
• AADHAR Card
• Voter's ID
• Passport size Photograph
• The investors will be issued an acknowledgement reciept which he/she needs to submit while applying for subscribing for a mutual fund scheme.

Advantages of SBI Magnum Taxgain Scheme

• Best return.
• Tax relief.
• Easy Tracking.
• Fund switched facility.
• Small investment option.
• Well organized investments.
• Unlimited investment option.
• Managed by the professionals.
• Govt. regulated investment.
• Reasonable investment alternative.
• Quick purchase and sell option.
• Reasonable investment alternative