SBI Magnum Taxgain scheme

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.

176 thoughts on “SBI Magnum Taxgain scheme”

  1. 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

  2. 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

  3. 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

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

  5. 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

  6. 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.

    1. 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!!!

      1. 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.

  7. 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.

  8. 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

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

  10. 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

  11. 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.

  12. 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)

  13. 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.

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

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

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

  15. 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.

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