SBI Magnum Taxgain Scheme 1993 dividend for 2009 has been announced by SBI MF. With over 17 lakh investors and a stable track-record of over 15-years SBI Magnum TaxGain ELSS Scheme 1993 has proved to be one of the most consistent performer amongst the tax saving schemes category in the Indian Mutual Fund Industry. See previous dividends declared
Dividend for 2009
Magnum TaxGain ELSS Scheme : 28%
Magnum Tax Gain ELSS has generated excellent returns over past 15 years and continues to provide retail investors a profitable avenue with constant stream of fat dividends. The SBI TaxGain Equity Linked Savings Scheme is also one of the largest equity scheme in India with corpus of over 3,262 Crores (Download Magnum TaxGain April 2009 Fact Sheet). SBI Mutual Fund is India’s largest bank sponsored mutual fund and has an enviable track record in judicious investments and consistent wealth creation.
After an long delay(and nil dividend in the previous financial year) it had become almost imperative for the fund manager/investment managers at SBI MF to declared a dividend no matter how small the dividend amount be. The scheme’s rivals like HDFC TaxSaver and HDFC Long Term Advantage Fund had already declared decent and timely dividend income in the past. Irony of dividends in falling markets is that, it lowers already low NAV.
Dividend Income Bigger than Annual Bonus/Increment:
In fact, for many Salaried Investors of this scheme, due to economic downturn the Dividend Income received from SBI Magnum Taxgain has ironically outstripped their annual bonus/incentive and annual increment incomes in their current profession.
The record date for dividend is 29-May-2009. Post declaration of the dividend the NAV of the scheme will fall to the extent of the dividend payout. Check NAV of the scheme.
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- Elss comparision aug 2007
- SBI Mutual Fund Magnum Taxgain Dividend History
- SBI Mutual Fund Equity Schemes Form
- SBI Mutual Fund Magnum Taxgain Equity Linked Savings Scheme ELSS
- SBI Mutual Fund Magnum Taxgain ELSS Equity Linked Savings Scheme
- SBI Mutual Fund Tax Advantage Fund Series 1
SUBJECT::regarding LOSS OF DIVIDEND PAYOUT CHEQUE
Sir,
I have invested in SBI MAGNUM TAX GAIN scheme..DIVIDEND option .I have lost the cheque of last years Dividend payout.Can u please help me in this regard?
thanx
Vanya
@Vanya
In cases of Non Receipt of Dividend or Misplacing/Loss of Dividend Payout Cheques you can write a simple letter to your local “SBI Assest Management Company Private Ltd” in your city and explain to them the same.
Provide them with all the relevant details like your folio number, name address and bank account details.
The AMC will verify the details and provide you with a new dividend cheque ideally within 15-20 days.
I want to know that total Fund charges (yearly entry load + Fumnd mgmt charges) for SBI magnum mutual fund pension plan. ICICI prudential ppl are after me to take the lIfe stage assure plan.
@Indira,
People are pushing you to buy something without providing you with right information.
SBI Pension Policy and ICICI Life Assure are Unit Linked Insurance Products, similar to LIC and other insurance policies.
It is not a Mutual Fund. I repeat, it is not a Mutual Fund.
Many gullible and vulnerable customers fall prey to tricky marketing techniques of Insurance Companies.
Any Insurance policy that you buy will pay more than 15-25% of your money to your broker(i.e the person who is forcing you to buy it.
Know what you are buying and the purpose of your buy.
OnlineMF.
Hi,
I am having SBI Tax gain mutual fund, few days back i got one mail to get all details through mail and have clicked on link on that mail. In response to that mail I got all details of my Fund and later I discovered that , that mail is fraud and they have my details.
Please let me know what should I do in this case.
@ Neil,
SBI Mutual Fund would rarely send mailers to your mailbox. They are not as internet savy yet, though it is just a matter of time. Secondly, in case even if you have provided the details to fradulent guys, remeber the scheme SBI TAX GAIN is a ELSS with 3 yr lock-in period which will make it a difficult task to play around with your money.
You can write an application to the fund house or the Asset Mangement Company requesting them to “place a Hold” on your folio number. They can red flag couple of your folio numbers. In fact if the SBI guys are smart enough they can even nab the person responsible for the fraud. Disable all online and internet communication from SBI MF and opt for physical transactions over internet transactions for a temporary period.
OMF.
Hi,
I have purchased few units of SBI Magnum tax gain (D) online from ICICIDirect.com. I also had SIP from my demat acc.
Now if i want to again invest in the fund, can do that directly sending cheque to SBI MF
OR
I have to use icicidirect account only to invest as my folio will be with them.
@Vivek,
You can have multiple folios. ICICI Direct is a broker or a Mutual Fund Agent. You can opt for ARN-Direct mode of Investing where you will be your own boss and would not be charged a penny. Doing this will save you lot of money.
OMF.
I have subscribed to L018 Magnum Tax Gain Scheme – Dividend Folio No.11021862. What is the current status and unit rate. Is it possible to sell these units. Please advise
@P.K Andavan,
You can track the NAV of All SBI Mutual Fund Schemes at various websites available on Internet. Magnum Tax Gain is an ELSS Scheme which has a lock in period of 3 yrs. You sell your units after 3 yrs are completed.
OMF
Sir,
Call you please insisit how the units will be calculated.
I have invested Rs. 20,000/- 4 years back
@HS Shhubha,
Units are calculated based on the NAV of day of your purchase.
Amount Invested Rs 10,000.
NAV 10.
Units allocated= Amount/NAV
Units Allocated=10,000/10=1000.
Call Customer Care Number of SBI Mutual Fund and find out your actual units and its value.
sir/madam,
This is for your kind information that I have purchased MTGS(D) on 1st week of Dec-09.In which time I can expect The Dividend.
Thanks,
Rajat
I Request you to know what are the previous dividend issued in Magnam multiplier Plus scheme 93 dividend since inception.
Dividend history of SBI Magnum Multiplier Plus 93 – Dividend
Record Date Rate of Dividend
Oct 22, 2009 70.0000 %
Aug 24, 2007 60.0000 %
May 31, 2005 21.0000 %
Jan 19, 2004 20.0000 %
Sep 8, 2000 20.0000 %
I PURCHASED L 018 MAGNUM TAX GAIN SCHEME FOR ONLY RS 5000/-ON 14.03.2008 , FOLIO NO-10xxxxxx. BUT I HAVE NOT BEEN INFORMED THE LATEST POSITION OF THE SAME.
PL INFORM ME IMMEDIATELY.
SUJAY SARKAR
@sujay sarkar,
The quickest and safest way to know about your mutual fund units is to call on SBI MUTUAL FUND phone number 1800-425 5425 and tell your folio# to request for account statement.
OMF