Magnum Taxgain seeks capital appreciation through investments in equities, cumulative convertible preference shares and fully convertible debentures and bonds.
Investment Focus
The prime objective of scheme is to deliver the benefit of investment in a portfolio of equity shares, while offering tax rebate on such investments made in the scheme under section 80 C of the Income-tax Act, 1961. It also seeks to distribute income periodically depending on distributable surplus.
Basic Scheme Information
| Nature of Scheme |
Open Ended Equity Tax Planning * |
| Inception Date. |
31 March, 1993 |
Entry Load.
(any amount) |
Investments below Rs. 5 crores - 2.25% Investments of Rs.5 crores and above - NIL |
Exit Load.
(any amount) |
Nil |
| Minimum Application Amount. |
Rs. Rs 500 and Multiples of Rs 500 |
| Systematic Investment Plan |
Rs.500/month - 12 months Rs.1000/month - 6months Rs.1500/quarter - 12 months |
| Systematic Withdrawal Plan |
A minimum of Rs. 500 can be withdrawn every month or quarter by issuing advance instructions to the Registrars at any time. This facility is available only after the lock-in period of three years. |
| Net Asset Value Periodicity. |
Every Day. |
| Option/Plan |
Dividend Plan |
| Net Asset |
Rs.715.89 Cr.(June 30, 2006) |
| Benchmark |
BSE 100 |
Stated Asset Allocation
| Equity,PCD’s and FCD’s and bonds |
80-100% |
| Debt & Money Market Instruments |
0-20% |
Scheme Highlights
- There is a statutory lock-in period of three years for investments in a Tax Saving Scheme (irrespective of the fact whether the investors claim the rebate u/s 80C or any other section or not).
- Dividends may be declared depending on distributable profits of the scheme. Facility to reinvest dividend proceeds into the scheme at NAV.
- Switchover facility to any other open-ended schemes of SBI Mutual Fund at NAV related prices available after the statutory lock-in period.
* The scheme was converted into an open-ended plan in November 1999. |
