SBI Magnum Taxgain Scheme Regular Growth - Latest NAV, Returns, Performance & Portfolio

SBI Magnum Tax Gain Scheme

  • highlight13.5%
  • highlight0.62(0.46%)

Start your investment

Min amount: 500

978
1,916
4,081
  • Save up to Rs 46,800 in taxes every year.
  • Highest returns compared to other 80C investments.
  • Lowest lock-in of 3 years

*Considering average returns of 15% for ELSS and 7-8% returns for FD & PPF

ELSSPPFFD

Fund Summarystar

PeriodReturns(per year)
10 Years16.63%
5 Years13.5%
3 Years11.17%
1 Year-5.17%
6 Months-7.54%
Fund Details
ISININF200K01495
RiskModerately High risk
Fund TypeELSS (Tax Savings)
NAV134.431
Exit Load--

More about this fundstar

Top HoldingsWeightage
ICICI Bank Ltd5.74%
Infosys Ltd5.39%
HDFC Bank Ltd4.54%
ITC Ltd4.44%
Reliance Industries Ltd4.12%
Axis Bank Ltd3.69%
State Bank of India3.29%
Larsen & Toubro Ltd3.2%
Ambuja Cements Ltd3.03%
Housing Development Finance Corp Ltd2.7%

About SBI Magnum Taxgain Fund

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.

Pros & Cons of SBI Magnum TaxGain

The fund was seen underperformed during market downturns recently. This might have been caused by changing the fund investment strategy. With the change in fund manager in 2016, came a change in strategy, performance, risk and reward. Regardless, the fund has been performing neutral over a long period of time.

Fund Information and Statistics of SBI Magnum TaxGain

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.

Tax benefits of investing in SBI Magnum TaxGain

One can get tax benefit up to Rs 1.5 lakh investment under Section 80C by investing in SBI Magnum TaxGain. If the return is above Rs 1 lakh at the time of sale, from the date of allotment a rate of 10% (without indexation) will be taxable.

About SBI Mutual Fund

SBI Mutual Fund is a joint venture between the State Bank of India and Amundi, a European asset management company which is a subsidiary jointly created by Crédit Agricole and Société Générale. The corporate headquarter of the SBI Mutual Fund, which is India’s largest bank sponsored mutual fund, is based out of Mumbai. It is also the first bank-sponsored fund that launched an offshore fund, Resurgent India Opportunity Fund.

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Min amount: 500

978
1,916
4,081
Need help?
Moderately High risk

All investments come with risk. Risk is the volatility or fluctuation in the price (and returns) of the investment. Usually,

  • High Risk = High possible returns
  • Low Risk = Stable, relatively lower returns