SBI Magnum Taxgain Direct Plan-Growth
PLAN: GROWTH TYPE : OPEN-ENDED OPTION: Growth
1 Yr return
3 Yrs CAGR returns
5 Yrs CAGR returns
NAV as on 14 Nov
₹ 148.83 by 0.24 ( 0.16%)
Fund Size (Cr)
Show NAV for:
If ₹1000 invested for 1
with % annual returns
* The calculator, based on assumed rate of returns, is meant for illustration purposes only.More
The calculations are not based on any judgments of the future return and should not be construed as promise on minimum returns. Information gathered and material used in this calculator is believed to be from reliable sources. Paisabazaar however does not warrant the accuracy, reasonableness and/or completeness of any such information. While utmost care has been exercised while preparing the calculator, Paisabazaar does not warrant the completeness or guarantee that the achieved computations are flawless and/or accurate and disclaims all liabilities, losses and damages arising out of the use or in respect of anything done in reliance of the calculator.
The scheme seeks capital appreciation through investments in equities, cumulative convertible preference shares and fully convertible debentures and bonds. The scheme was converted into an open-ended plan in November 1999.
Returns are taxed at 15%, if you redeem before one year. After 1 year, you are required to pay LTCG tax of 10% on returns of Rs 1 lakh+ in a financial year.
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|Top 10 Sectors||%|
|Top 10 Sectors||%|
|Crude Oil & Natural Gas||4.91|
|Fund House||SBI Mutual Fund|
|Fund Manager||Dinesh Balachandran|
|Fund Setup Date||01 Jan 2013|
|Address||9th Floor-Crescenzo, C-38 & 39- G Block, Bandra-Kurla Complex, Bandra (East)|
|Contact||022 - 61793000 / 1800 425 5425|
Whata is SBI Magnum Tax Gain Fund?
SBI Magnum Tax Gain Fund aims to offer the benefit of investments in an equity portfolio, while also offering exemption from tax under Section 80C of the Income Tax Act. The fund invests a majority of its assets (at least 80%) in equity and other related securities. The remaining 20%, however, can be invested in other money market instruments.
With historical performance over 17 years, Mr. Dinesh Balachandran has been managing this fund since September 2016. A B.Tech from IIT Bangalore, M.S. from MIT, USA and a CFA degree-holder, Mr. Dinesh had been working with Fidelity Investments before joining SBI Magnum Tax Gain fund.
Who Should Invest?
- Being an ELSS fund, the scheme is suitable for investors with a smaller risk appetite
- Investors who are willing to invest their money for a period of at least 3 years
- The fund is suitable for investors who are looking forward to gain from additional tax benefits
What You Gain?
- There is no Exit Load applicable on the investments made in this fund
- Being an equity linked savings scheme, investments in this fund help investors save taxes of up to 1.5 lakh in a financial year under Section 80C of the Income Tax Act
What You Lose?
- All the equity funds are subject to market risks. Being a multi-cap fund, there is a moderate level of risk involved in this fund
- The fund has an Expense Ratio applicable every year
- The fund has a moderately higher level of risk involved
Taxation- How will they be taxed?
Investments made in SBI Magnum Tax Gain Fund are eligible for a tax deduction of Rs. 1.5 lakh under Section 80C of the Income Tax Act. The scheme also allows a 2-in-1 benefit of investing and tax deduction, along with greater diversification of risk control and a 360-degree research. Being an Equity Linked Savings Scheme, SBI Magnum Tax Gain Fund has a lock-in period of 3 years, which is considered the lowest among all the tax saving alternatives in the country.
How to invest in SBI Magnum Tax Gain Fund?
- Sign Up/Sign in to Paisabazaar.com and go to ‘Direct Mutual Funds’
- Click on the section of ‘ELSS Funds’
- Type and search directly by the name of SBI Magnum Tax Gain Fund Direct Growth. Once it opens up, look at the details. You can also compare similar funds as well as use SIP Calculator or Lumpsum Calculator to estimate the future value of your investment
- Click on ‘Invest Now’, select either Lump sum or SIP
- Trusted website, no commission charges and no paperwork. Only direct plans, no regular ones
- You can compare more than 1,700 Funds at one platform instead of visiting the website of each AMC and then searching for numerous funds
- Easy to browse as Funds are segregated under Equity, Debt, Large Cap, ELSS, etc. You can further add filters of ratings, returns, fund houses
- Important scheme details such as latest Net Asset Value (NAV), expense ratio, Assets Under Management (AUM), etc. are also available on the portal, making it easier for consumers to pick a suitable fund
Q. What are multi cap funds?
A. Multi cap funds are diversified mutual funds that invest in stocks across market capitalization.The portfolio of these funds have large cap, mid cap and small cap stocks.
Q. Does SBI Magnum Tax Gain Fund come under Section 80C or offers tax benefits?
A. Yes, SBI Magnum Tax Gain Fund is an Equity Linked Savings Scheme (ELSS). It is eligible for tax exemption of upto Rs. 1.5 lakh in a financial year under Section 80C of the Income Tax Act.
Q. What is Exit Load? Does SBI Magnum Tax Gain Fund have an Exit Load?
A. Exit Load is the fee charged from an investor when he decides to quit the scheme and redeem his money. Generally, there is some penalty charged only if funds are redeemed in less than 365 days, otherwise there are usually no charges. No, the fund does not have an Exit Load.
Q. What is Expense Ratio?
A. It is the fee charged from the investor for managing his fund money and allocating it to the stocks that can help him earn returns.
Q. What is the lock-in period of SBI Magnum Tax Gain Fund?
A. Being an Equity Linked Savings Scheme, the fund has a lock-in period of 3 years.