SBI Magnum Long Term Equity Scheme Regular Growth
SBI Magnum Long Term Equity Scheme Regular Growth2Morning Star
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Min amount: ₹500
- Save up to Rs 46,800 in taxes every year.
- Highest returns compared to other 80C investments.
- Lowest lock-in of 3 years
|Tax Saving FD||PPF||ELSS|
|Average Annualised Returns i||6%||8%||12%|
|Tax rates i||30%||Not taxable||10%*|
|Returns after tax i||4.2%||8.00%||10.80%|
|Current rate of Inflation i||4%||4%||4%|
|Real Rate of Return i||0.2%||4.00%||6.80%|
|Lock-in Period i||5 years||15 years||3 years|
- Fund Summary
- More about Fund
- Related funds
- Why Cleartax
|Risk||Moderately High risk|
|Fund Type||ELSS (Tax Savings)|
More about this fund
|HDFC Bank Ltd||5.75%|
|ICICI Prudential Life Insurance Co Ltd||4.42%|
|Axis Bank Ltd||4.38%|
|ICICI Bank Ltd||4.07%|
|State Bank of India||3.86%|
|Bharti Airtel Ltd||3.78%|
|Larsen & Toubro Ltd||3.49%|
|Ambuja Cements Ltd||3.33%|
|Reliance Industries Ltd||3.28%|
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
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
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