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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.
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
Shailendra, Please get in touch with your broker or agent who sold you this, and he’ll be able to help you.
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
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.
my folio no. is 7596625 OF L18 MAGNUM TAX GAIN SCHEME – DIVIDEND. PLEASE SEND ME THE CURRENT STATEMENT.
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.
You will have to sell the units you own to get paid for them.
I am in a fix how to get statement of Magnum tax gain
I am still in a fix ow to get the statement of Magnum Tax gain.
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.
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
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
Sir,
Please send me detailed statement of Magnum tax gain scheme Folio No. 8434051 as I have not received the dividend.
please send the detail statement of account of SIP folio No5247652 to my e-mail
Folio no. is.: 12533628
Kindly send me the account statement montaly basis on my e-mail id.
How people have to ask about the value of thier portfolio? why then can’t watch it online?
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
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
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.
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
please send the detail statement of account of SIP folio No11464927 to my e-mail
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.