SBI Magnum Taxgain scheme

by Manshu on March 18, 2010

in Mutual Funds

Image by Alan Cleaver

SBI Magnum Taxgain scheme is a mutual fund from SBI that helps you get tax benefit under section 80 C (the one with the one lakh limit), and primarily invests in equity. Before I go any further, let me state that there is a 3 year lock in period in this fund.

Over the years, I have heard a few people ask whether the lock – in applies if they don’t claim the tax benefit, and the answer is: Yes.

The lock in will remain intact regardless of whether you claim the tax benefit or not.

The Magnum Taxgain scheme will primarily be invested in equity, and at the end of February 2010 – it had 91.73% of its assets invested in equity. The fund leans towards large caps with Reliance Industries, ICICI Bank, L&T, United Spirits and GAIL being its top 5 holdings as on Feb 28 2010. It’s well worth noting here that the top 10 holdings of the fund make up 31.2% of its assets.

Over a 5 year period the SBI Magnum Taxgain fund has given annualized returns of 26.3% against Nifty returns of 20%. This page from Moneycontrol shows that this is among one of the better funds over a five year period. Its returns beat Nifty over a five year period which is a good thing, and the fact that it gives you tax benefits as well is just icing on the cake.

On a 1 – 5 scale – it has got a 4 rating from Value Research, and “Fund Return Grade” of “Average”.  The minimum investment in this fund is Rs.500, and you can also set up SIPs in this plan.

In the past I have written about keeping the tax angle in mind while investing, and if you were thinking about some tax planning, then this is certainly one of the options you could check out.

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{ 162 comments… read them below or add one }

Rama Grover March 28, 2010 at 5:40 am

I purchased tax gain SBI Magnums in 2006 for Rs. 70000/- . Folio no. 8833984. I have no knowledge as to how many units I have at present and how much dividend I have earned yearwise and how many units I have at present.

Reply

rajan bansal May 2, 2010 at 1:08 am

I have purchased SBI magnum tax gain in 2006 & 2007. Folio no. is 7165797.
kindly send me the statement on my email.

Reply

Manshu May 2, 2010 at 9:47 am

Please get in touch with the agent who sold you this. They will be able to assist you.

Reply

PAramjeet KAur August 11, 2010 at 4:47 am

shall i stop these SIP.do reply.My folio no is-12525559

Reply

sekhar bitter October 5, 2010 at 1:49 am

I have purchased SBI magnum tax gain in 2006 & 2007. Folio no. is 10218422
kindly send me the statement on my email.

Reply

rajan anant nakhwa January 25, 2011 at 3:02 am

I have purchased SBI magnum tax gain in 2009 & 2010. Folio no. is 10286308 and 10292047.
kindly send me the statement on my email.

Reply

KSHATRIYA HEMANT SINGH June 27, 2010 at 11:46 pm

follio no.12070100LO18G

Reply

KSHATRIYA HEMANT SINGH June 27, 2010 at 11:57 pm

plsease send my a/c stetment

Reply

Venu KP June 30, 2010 at 4:19 am

I am investing in SBI Magnum Tax Gain Scheme 93 Growth from August 2007. My monthly subscibtion in SIP is @ Rs. 2000/- . Can you please intimate my account balance approximately considering applicable entry load.

Reply

subodh kumar August 4, 2010 at 8:39 am

I had invested Rs.50000 in December 2007 in L018 SBI Magnum Tax Gain Scheme – Dividend, with reinvestment of dividend plan. Pl let me know the present value of my investment. (Not NAV, but total value)

Reply

Satish Kumar August 8, 2010 at 5:31 am

I am investing through SIP 1000/month in SBI Magnum Tax Gain Scheme – Growth option since September 2009. My folio no. is 11961399. Let me know the total unit accumulated by me and its total value at present.

Reply

Tulsi Ram Kesharwani August 9, 2010 at 9:32 pm

I have SBI Magnum Tax gain. Folio nos are 7610856 and 8653728. No dividend and no account statement. Can you look into it and send the account statements.

Tulsi Ram kesharwani

Reply

Gurpreet Singh August 13, 2010 at 5:04 am

Please update me with status of SBI Magnum MF Folio No. 8407360 & 8510329

Reply

kulbhushan Babayya Hiremath August 14, 2010 at 1:17 am

I have purchased SBI magnum tax gain in 2009-10. Folio no. is 12326135.
kindly send me the statement on my email.

Reply

R.RAJASHEKHAR August 17, 2010 at 2:12 am

Dear Sir,

I have purchased SBI magnum tax gain in 2006. Folio no. is 7483665.
Kindly send me the statement on my e-mail id.
Also, kindly let me know the proecedure to sell it.

R.Rajashekhar

Reply

VIKRAM SINGH RATHORE August 28, 2010 at 8:57 pm

Dear Sir,

I have purchased SBI magnum tax gain in 2008. Folio no. is 10724912.
Kindly send me the statement on my e-mail id.
Also, kindly let me know the proecedure to sell it.

Reply

Dr.ajay kolhe August 28, 2010 at 9:56 pm

I invested rs.5,000 in sbi magnum taxgain on march 2007.my folio number is 8813057.Please let me know my acount status and my balance on my email.

Reply

selvaraj October 4, 2010 at 2:20 am

Hi.
I invested Rs2500 in sbi magnum tax gain couple of days before.i wish to add my invest in the same…let me know what is the procedure to do that or is there any possiblity to pay my investment like sip!!!

Reply

Manshu October 4, 2010 at 4:53 pm

You can get into it the way you did before, or go to an agent that can help you set up the SIP, going to a bank could also help, or if you have a broker like ICICI Direct, they have the SIP facility as well.

Reply

ABHAY KUMAR September 1, 2010 at 10:05 pm

plsease send my accounts statements from purchess date folio detatils are geven below PLESE SEND IT THROUGH MY POSTAL ADDRESS 1..12373225 2..11969967 3..11103432 4..8954412 5..12373225

Reply

Urmi Gupta September 2, 2010 at 6:43 pm

Please send me more information.

Reply

Ravindra September 8, 2010 at 6:46 am

Dear sir
My Magnam TaxGain Polio No is : 7677044 Pls send me the the details through
above Mail ID.
Thank you
Regards
Ravindra

Reply

uttam nandy September 9, 2010 at 12:23 am

my folio no11687253 please sand my account detals my bank name uco bank a\c no 09580100000089 branch barrackpor city kolkata ifsc cod ucba0000958 micr code no 700028125 i no recived any devedand

Reply

Rajendrakumar Keshaorao Bhoyar September 10, 2010 at 11:29 pm

My Folio Number is 6079348 in L018 Magnum Tax Gain Scheme of SBI. Kindly let me know the NAV as on date and also balance unit in my above Folio. Kindly send the same by return email at the earliest possible. Also let me know the status of this year divident.

Regareds

Reply

Rajeev Ranjan Pathak September 11, 2010 at 7:37 pm

Dear Sir,
My Folio Number is 6079348 in L018 Magnum Tax Gain Scheme of SBI. Kindly let me know the NAV as on date and also balance unit in my above Folio. Kindly send the same by return email at the earliest possible. Also let me know the status of this year divident.

Regards

Reply

Durga prasad pathak September 17, 2010 at 6:41 am

Dear sir
my folio no11548575 magnam tax gain scheme of sbi. please send date andbalance units inmy folio no 11548575also let me know the atuse of this year divident.

Reply

dr s m gangadharaiah September 20, 2010 at 9:27 am

please send the detail statement of account of SIP folio No11464927 to my e-mail

Reply

hemant September 30, 2010 at 7:31 am

Dear Sir,
My Folio Number is 10436107 in L018 Magnum Tax Gain Scheme of SBI. Kindly let me know the NAV as on date and also balance unit in my above Folio. Kindly send the same by return email at the earliest possible. Also let me know the status of this year divident.

Regards

Reply

hemant September 30, 2010 at 7:34 am

Dear Sir,
My Folio Number is 3158666/29 in hdfc top 200 growth. Kindly let me know the NAV as on date and also balance unit in my above Folio. Kindly send the same by return email at the earliest possible. Also let me know the status of this year divident.

Regards

Reply

Pinaki Hazra October 31, 2010 at 4:55 am

Dear Sir,
My Folio number is 9905235 in SBI magnum Tax gain. kindly let me know the NAV as on date and the no. of units in my above folio number.
kindly send the same by return e mail as early as possible.

Reply

hemant September 30, 2010 at 7:36 am

Dear Sir,
My account no 44571838031 in reliance natural resources fund growth plan. Kindly let me know the NAV as on date and also balance unit in my above Folio. Kindly send the same by return email at the earliest possible. Also let me know the status of this year divident.

Regards

Reply

Urmi Gupta September 30, 2010 at 5:20 pm

How people have to ask about the value of thier portfolio? why then can’t watch it online?

Reply

deepali shinde October 1, 2010 at 10:43 am

Folio no. is.: 12533628
Kindly send me the account statement montaly basis on my e-mail id.

Reply

A S SHAJILAL October 3, 2010 at 4:51 am

please send the detail statement of account of SIP folio No5247652 to my e-mail

Reply

Dr. Mohammad Zahoor Chishti October 5, 2010 at 2:58 am

Sir,
Please send me detailed statement of Magnum tax gain scheme Folio No. 8434051 as I have not received the dividend.

Reply

Dr. Mohammad Zahoor Chishti October 5, 2010 at 3:36 am

I have gained a lot in Magnum Tax gain. but would like to receive the statement of my account Folio 8434051
with regards
Sincerely
M. Z. Chishti

Reply

K. Jaya Vani October 14, 2010 at 1:43 am

Dear Sir,
My Folio Number is 9933691 in L018 Magnum Tax Gain Scheme-DIVIDEND of SBI. Kindly let me know the NAV as on date and also balance unit in my above Folio. Kindly send the same by return email at the earliest possible. Also let me know the status of this year dividend and also the transaction history till date.

Regards
Jaya Vani Kurni

Reply

ullhas sahadeo bane October 16, 2010 at 12:09 am

my wife invested in sbi magnum tax gain, folio no.8672786, you are requested to let us know the NAV as on today and mail the same on above stated address.

Reply

Dr. Mohammad Zahoor Chishti October 31, 2010 at 8:16 am

I am still in a fix ow to get the statement of Magnum Tax gain.

Reply

Dr. Mohammad Zahoor Chishti October 31, 2010 at 8:17 am

I am in a fix how to get statement of Magnum tax gain

Reply

SHAILESH KUMAR GUPTA November 6, 2010 at 3:21 pm

I had been investing under SIP Rs.1000/- per month from 1st Jan 2008 in SBI Magnum tax gain in my FOLIO 10216206. The scheme will end on 05-12-2010. How to apply for the payment.

Reply

Manshu November 6, 2010 at 3:49 pm

You will have to sell the units you own to get paid for them.

Reply

Sandeep Sharma November 8, 2010 at 9:31 pm

my folio no. is 7596625 OF L18 MAGNUM TAX GAIN SCHEME – DIVIDEND. PLEASE SEND ME THE CURRENT STATEMENT.

Reply

Hemalatha D P November 9, 2010 at 12:57 am

I have purchased SBI magnum tax gain in 2008. Folio no. is 11082424.
Kindly send me the statement on my e-mail id.
Also, kindly let me know the proecedure to sell it.

Reply

Shelendra Kaushish November 10, 2010 at 5:20 am

Hi I have purchased L018G Magnum Tax Gain Scheme – Growth in 2007. What is my fund value? my Folio Number is : 10430944.
Have invested 25000/-

Thanks

Reply

Shelendra Kaushish November 10, 2010 at 5:23 am

Hi I have puchased RELIANCE NATURAL RESOURCE FUND-GROWTH PLAN-GROWTH OPTION. My a/c # is 41678345816.
I have invested only 10000/-. Can I have the current value of my money?
Please advise.

Thanks

Reply

Manshu November 10, 2010 at 9:27 am

Shailendra, Please get in touch with your broker or agent who sold you this, and he’ll be able to help you.

Reply

Dhrubojyoti Biswas November 18, 2010 at 6:22 am

Please send me the current fund value of the followings sbi magnum tax gain schemes:

1. Folio No.-7661244
2. Folio No.-9803431
3. Folio No.-9089999

Reply

PRAKASH ROHIDAS PATIL November 20, 2010 at 1:16 am

I have purchased SBI magnum tax gain in 2007 & 2008. Folio no. is 10025150.kindly send me the statement on my email.my old mail id is patil@ank.bluton.com my new mail id is prakash.patil@basf.com

so, please send statament in new mail address.

Reply

Vikas Mane November 23, 2010 at 2:34 am

I have purchased SBI magnum tax gain 93 (G) in 2007 , 2008,2009 & 2010. My Folio no’s are 9077079,11598653,12227868 respectively.
kindly send me the statement on my email.
T& R ,
Vikas

Reply

Manshu November 23, 2010 at 6:59 am

Send a note to your agent. He will be able to help you.

Reply

Suchitra Kalgutkar November 30, 2010 at 9:27 pm

I have purchased SBI Magnum Tax Gain -Dividend. My Folio number is 11040637. Kindly send me monthly statement on my email id. Also i want to know current fund value. Pl. Send me through mail.

Reply

Rajeshwar Sable January 8, 2011 at 1:33 am

Kindly send me folio 11551235 statment for year 2010 – 2011

Reply

Manshu January 9, 2011 at 7:12 am

Talk to your agent Rajeshwar.

Reply

JR Dobhal January 8, 2011 at 7:49 am

pl send me statement of account for L018G-SBI-Magnum Tax Gain Scheme – Growth (advisor : ARN-63032) folio No : 11547959

Reply

Mukesh Ghuse January 11, 2011 at 11:04 pm

pl send me statement of account for SBI-Magnum Tax Gain Scheme – Divident folio No : 12867760

Reply

Dharmendra Kumar Singh January 18, 2011 at 1:24 am

I am investing through SIP 2000/month in SBI Magnum Tax Gain Scheme – Dividend since January 2011. My folio no. is 12869153. Let me know the total unit accumulated by me and its total value at present.

Reply

VS January 24, 2011 at 12:38 am

Please give information of folio number 11240414

Reply

Manshu January 24, 2011 at 10:57 pm

Talk to your agent VS.

Reply

Sanjaya Kumar Purohit January 27, 2011 at 11:29 am

i have invested Rs 1000/per month in SBI magnum tax gain (Div Reinvest) fund since Feb 2009 having folio no 11610295. Pl send me monthly purchased unit and nav starting from Feb 2009. I ve also purchased SBI MSFU(Div) fund of Rs 1500/per month since Sep 2009 having folio no 11610295. Pl send me allocated nav and unit starting from Sep 2009.

Reply

Sanjaya Kumar Purohit January 27, 2011 at 11:33 am

i have invested Rs 1000/per month in SBI magnum tax gain (Div Reinvest) fund since Feb 2009 having folio no 11610295. Pl send me monthly purchased unit and nav starting from Feb 2009. I ve also purchased SBI MSFU(Div) fund of Rs 1500/per month since Sep 2009 having folio no 11610295. Pl send me allocated nav and unit starting from Sep 2009 in my email id.

Reply

Asamanja Banerjee February 4, 2011 at 3:12 am

pl send me statement of account for L018-SBI-Magnum Tax Gain Scheme – Dividend (advisor : ARN-32814) folio No : 7021619

Reply

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