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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.
Please inform me about the SBI Magnum Taxgain scheme, I have invested in December,2007, please send statement of folio no.10318456
please send statement of folio no. 12856707 from April 2011 to Feb 2012.
kindly tell me the surrender value of folio no 12535290
Dear Sir,
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Please send statement of Account Folio No 8578555 ASAP……………My Mobile No.9875004615 , 9828574615.
My folio no. is 8487526 (L018 Magnum Tax Gain)
Kindly send the present statement of above mentioned folio by email at the earliest
or present status of this folio
Regardas
Sanjiv W Gajare
SIR,
please send statement of account folio no 12758413.AS SOON AS POSBILE……………MY MOBILE NO.9919840104
PLS SEND ME MY STATEMENT OF ACCOUNTS. FOLIO NO. 10408541
SBI – MAGNUM TAX GAIN
sir,please send my a/c details at my home add. my folio no. is 12532897.
My SBI Magnum Tax Gain Scheme 3 years locking period is over, now i want the money back.
Kindly advise how i can get the money back, provide if any contacts.
pl send finacial statement 2011-2012 of account folio no 12787208
please send statement of account folio no 12634999 My mobile no 8989528876
Reply
please send statement of Mrs Archana Tare folio no 12819284
please send statement of account folio no 12634999
sir
,
please send me nav of l-o18 SBI MAGNUM TAX GAIN SCHEME
THANKS.
Please send me the statement of account for the LO18 MAGNUM TAX GAIN SCHEME. My FOLIO NUMBER IS 10651467. Also I would like to know the current value of these funds.
Janaki Kumar
pl send me the statement of account for the L018 magnum Tax Gain Scheme. Secondly pl provide me the details of unclaimed dividends scince 2006. pl inform me the procedure to claim such unclaimed dividends. MYfolio number is 7040641. mychenged address and mobile no. are given below: –
Jayant Manohar Raole,
Flat No. 9, Siddhi Enclave ,
Opp. Mahila Bank,
Indiranagar,
NASHIK- 422009.
Mobile NO. 9405176279
Hello Sir,
my folio no. 8874720 please informed me the current value of my sbi lo 18 magnum taxgain scheme-
Pl. send me the statement of account for Folio Number : 10373620 of L018SBI-Magnum TaxGainScheme-Dividend
Hello sir,
yself & my wife ( H S Rajamohan & Mrs.Sudha Rajamohan) have invested rs.49,000.00 each vide Folio Nos. 12775332 & 12775294 respectiely. In order to file our annual taxes , we need the account statement for both the Investments ,urgently. Request you to forward the same to our e mail address :rajamohan_h@hotmail.com or to our address : # 303, Skyline Chalet, Diwan madhav rao road, basavanagudi, Bengaluru-560004 (tel : (080) 26620396, immediately. Please acknowledge this request & reply to my email about the despatch of statements. Regards. Rajamohan & Sudha Rajamohan
Please send the details of my account balance for FOLIO NUMBER- 8811290 of “L018 MAGNUM TAX GAIN SCHEME” on my email address.