Tag Archives: SBI MF

SBI Magnum Taxgain Scheme 1993 dividend for 2009 has been announced by SBI MF

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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NAV SBI MAGNUM TAXGAIN SCHEME

HISTORICAL NAV SBI MAGNUM TAXGAIN SCHEME

PERIOD 1-JAN-2008 TO 10-SEP-2008.

SBI MAGNUM TAXGAIN SCHEME NAV Jan – Sep 2008

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Principal MF

NAV of All SBI Mutual Fund schemes as on 02-May-2008

NAV as on 02-May-2008
SBI Mutual Fund
Open Ended Schemes (Income)
Scheme NAV Name Net Asset Value Repurchase Price Sale Price Date
SBI Magnum Income Fund-Bonus 12.5628 12.5 12.5628 02-May-08
SBI Magnum Income Fund-Dividend 10.2081 10.1571 10.2081 02-May-08
SBI Magnum Income Fund-Growth 20.74 20.6363 20.74 02-May-08
SBI Magnum Income Plus Fund – Investment Plan (D) 10.8534 10.7449 10.8534 02-May-08
SBI Magnum Income Plus Fund – Investment Plan (G) 14.3925 14.2486 14.3925 02-May-08
SBI Magnum Income Plus Fund – Savings Plan (D) 10.2589 10.1563 10.2589 02-May-08
SBI Magnum Income Plus Fund – Savings Plan (G) 10.6041 10.4981 10.6041 02-May-08
SBI Magnum Monthly Income Plan-Dividend-Annually 11.0306 10.9754 11.0306 02-May-08
SBI Magnum Monthly Income Plan-Dividend-Monthly 10.9579 10.9031 10.9579 02-May-08
SBI Magnum Monthly Income Plan-Dividend-Quaterly 10.5984 10.5454 10.5984 02-May-08
SBI Magnum Monthly Income Plan – Growth 18.2354 18.1442 18.2354 02-May-08
SBI Magnum Monthly Income Plan-Floater-Dividend-(Annual) 10.8671 10.8671 10.8671 02-May-08
SBI Magnum Monthly Income Plan-Floater-Dividend-(Monthly) 10.4149 10.4149 10.4149 02-May-08
SBI Magnum Monthly Income Plan-Floater-Dividend-(Quarterly) 10.3492 10.3492 10.3492 02-May-08
SBI Magnum Monthly Income Plan-Floater-Growth 11.7047 11.7047 11.7047 02-May-08
SBI MAGNUM NRI – SHORT TERM BOND PLAN-DIVIDEND 10.5038 10.5038 10.5038 02-May-08
SBI MAGNUM NRI – SHORT TERM BOND PLAN-GROWTH 10.7975 10.7975 10.7975 02-May-08
SBI MAGNUM NRI LONG TERM BOND PLAN-DIVIDEND 10.3 10.2485 10.3 02-May-08
SBI MAGNUM NRI LONG TERM BOND PLAN-GROWTH 10.9047 10.8502 10.9047 02-May-08
SBI Short Horizon Fund – Liquid Plus fund – Institutional Plan – Daily Dividend 10.005 10.005 10.005 02-May-08
SBI Short Horizon Fund – Liquid Plus fund – Institutional Plan – Fortnightly Dividend 0 0 0 02-May-08
SBI Short Horizon Fund – Liquid Plus fund – Institutional Plan – Growth 10.6228 10.6228 10.6228 02-May-08
SBI Short Horizon Fund – Liquid Plus fund – Institutional Plan – Monthly Dividend 10.0889 10.0889 10.0889 02-May-08
SBI Short Horizon Fund – Liquid Plus fund – Institutional Plan – Weekly Dividend 10.0549 10.0549 10.0549 02-May-08
SBI Short Horizon Fund – Liquid Plus fund – Retail Plan – Daily Dividend 10.0048 10.0048 10.0048 02-May-08
SBI Short Horizon Fund – Liquid Plus fund – Retail Plan – fortnightly Dividend 0 0 0 02-May-08
SBI Short Horizon Fund – Liquid Plus fund – Retail Plan – Growth 10.5772 10.5772 10.5772 02-May-08
SBI Short Horizon Fund – Liquid Plus fund – Retail Plan – Monthly Dividend 10.0663 10.0663 10.0663 02-May-08
SBI Short Horizon Fund – Liquid Plus fund – Retail Plan – Weekly Dividend 10.0496 10.0496 10.0496 02-May-08
SBI SHORT HORIZON FUND-SHORT TERM FUND INSTITUTIONAL DIVIDEND FORTNIGHTLY 0 0 0 02-May-08
SBI SHORT HORIZON FUND-SHORT TERM FUND INSTITUTIONAL DIVIDEND MONTHLY 10.1095 10.1095 10.1095 02-May-08
SBI SHORT HORIZON FUND-SHORT TERM FUND INSTITUTIONAL DIVIDEND WEEKLY 0 0 0 02-May-08
SBI SHORT HORIZON FUND-SHORT TERM FUND INSTTUTIONAL GROWTH 0 0 0 02-May-08
SBI SHORT HORIZON FUND-SHORT TERM FUND RETAIL DIVIDEND FORTNIGHTLY 0 0 0 02-May-08
SBI SHORT HORIZON FUND-SHORT TERM FUND RETAIL DIVIDEND MONTHLY 10.1046 10.0541 10.1046 02-May-08
SBI SHORT HORIZON FUND-SHORT TERM FUND RETAIL DIVIDEND WEEKLY 10.0538 10.0035 10.0538 02-May-08
SBI SHORT HORIZON FUND-SHORT TERM FUND RETAIL GROWTH 10.5742 10.5213 10.5742 02-May-08
Open Ended Schemes (Growth)
Magnum Equity Fund -Dividend 32.11 31.79 32.83 02-May-08
Magnum Equity Fund- Growth 36.53 36.16 37.35 02-May-08
SBI Arbitrage Opportunities Fund – Div 10.8108 10.7838 10.8108 02-May-08
SBI Arbitrage Opportunities Fund – Gr 11.4143 11.3858 11.4143 02-May-08
SBI BLUE CHIP FUND-DIVIDEND 11.58 11.46 11.84 02-May-08
SBI BLUE CHIP FUND-GROWTH 13.29 13.16 13.59 02-May-08
SBI Magnum Children Benefit Plan- Holding Held for <= 1 Year 18.6485 18.089 18.9282 02-May-08
SBI Magnum COMMA Fund – Dividend 20.63 20.42 21.09 02-May-08
SBI Magnum COMMA Fund – Growth 22.72 22.49 23.23 02-May-08
SBI MAGNUM GLOBAL FUND 94 – DIVIDEND 32.45 32.13 33.18 02-May-08
SBI MAGNUM GLOBAL FUND 94 – GROWTH 49.13 48.64 50.24 02-May-08
SBI Magnum Index Fund – Dividend 22.6538 22.6538 22.7671 02-May-08
SBI Magnum Index Fund – Growth 45.6704 45.6704 45.8988 02-May-08
SBI Magnum MIDCAP FUND – DIVIDEND 19.58 19.38 20.02 02-May-08
SBI Magnum MIDCAP FUND – GROWTH 25.53 25.27 26.1 02-May-08
SBI Magnum Multicap Fund – Dividend Option 13.47 13.34 13.77 02-May-08
SBI Magnum Multicap Fund – Growth Option 17.73 17.55 18.13 02-May-08
SBI Magnum Multiplier Plus Scheme – 93 -Dividend 54.13 53.59 55.35 02-May-08
SBI Magnum Multiplier Plus Scheme – 93 -Growth 66.76 66.09 68.26 02-May-08
SBI MAGNUM NRI FLEXIASSET PLAN-DIVIDEND 27.095 26.8241 27.7046 02-May-08
SBI MAGNUM NRI FLEXIASSET PLAN-GROWTH 26.9802 26.7104 27.5873 02-May-08
SBI MSFU CONTRA-DIVIDEND 32.64 32.31 33.37 02-May-08
SBI MSFU CONTRA-GROWTH 50.2 49.7 51.33 02-May-08
SBI MSFU EMERGING BUSINESSES FUND – DIVIDEND 19.59 19.39 20.03 02-May-08
SBI MSFU EMERGING BUSINESSES FUND – GROWTH 36.26 35.9 37.08 02-May-08
SBI MSFU FMCG 16.5 16.34 16.87 02-May-08
SBI MSFU IT 20.71 20.5 21.18 02-May-08
SBI MSFU PHARMA – DIVIDEND 26.76 26.49 27.36 02-May-08
SBI MSFU PHARMA – GROWTH 32.5 32.18 33.23 02-May-08
Open Ended Schemes (Balanced)
SBI Magnum Balanced Fund – Dividend 27.96 27.68 28.59 02-May-08
SBI Magnum Balanced Fund – Growth 43.23 42.8 44.2 02-May-08
Open Ended Schemes (Liquid)
MAGNUM INSTA CASH FUND – DAILY DIVIDEND 16.7503 16.7503 16.7503 04-May-08
SBI Magnum Insta Cash Fund – Liquid Floater Plan – Dividend 10.2786 10.2786 10.2786 04-May-08
SBI Magnum Insta Cash Fund – Liquid Floater Plan – Growth 14.0991 14.0991 14.0991 04-May-08
SBI MICF CASH PLAN 18.2504 18.2504 18.2504 04-May-08
SBI MICF DIVIDEND PLAN 10.7068 10.7068 10.7068 04-May-08
SBI Premier Liquid Fund – Institutional – Fortnightly Dividend 10.1189 10.1189 10.1189 04-May-08
SBI Premier Liquid Fund – Institutional – Weekly Dividend 10.5933 10.5933 10.5933 04-May-08
SBI Premier Liquid Fund – Institutional – Daily Dividend 10.0325 10.0325 10.0325 04-May-08
SBI Premier Liquid Fund – Institutional – Growth 13.0831 13.0831 13.0831 04-May-08
SBI Premier Liquid Fund – Super Institutional – Fortnightly Dividend 0 0 0 04-May-08
SBI Premier Liquid Fund – Super Institutional – Weekly Dividend 10.5775 10.5775 10.5775 04-May-08
SBI Premier Liquid Fund – Super Institutional – Daily Dividend 10.0325 10.0325 10.0325 04-May-08
SBI Premier Liquid Fund – Super Institutional – Growth 12.9323 12.9323 12.9323 04-May-08
Open Ended Schemes (Gilt)
SBI MGLT- DIVIDEND – PF (Fixed Period – 1 Yr) Option 10.0578 10.0075 10.0578 02-May-08
SBI MGLT- DIVIDEND – PF (Fixed Period – 2 Yrs) Option 10.0161 9.946 10.0161 02-May-08
SBI MGLT- DIVIDEND – PF (Fixed Period – 3 Yrs) Option 10.1146 10.0236 10.1146 02-May-08
SBI MGLT- DIVIDEND – PF (Regular) Option 10.1819 10.1819 10.1819 02-May-08
SBI MGLT- GROWTH – PF (Fixed Period – 1 Yr) Option 11.573 11.5151 11.573 02-May-08
SBI MGLT- GROWTH – PF (Fixed Period – 2 Yrs) Option 11.4835 11.4031 11.4835 02-May-08
SBI MGLT- GROWTH – PF (Fixed Period – 3 Yrs) Option 11.3415 11.2394 11.3415 02-May-08
SBI MGLT- GROWTH – PF (Regular) Option 11.6879 11.6879 11.6879 02-May-08
SBI MGLT-DIVIDEND 10.1263 10.1263 10.1263 02-May-08
SBI MGLT-GROWTH 18.2628 18.2628 18.2628 02-May-08
SBI MGST-DIVIDEND 10.2663 10.2663 10.2663 02-May-08
SBI MGST-GROWTH 16.3303 16.3303 16.3303 02-May-08
Open Ended Schemes (ELSS)
SBI MAGNUM TAXGAIN SCHEME 1993 – DIVIDEND 44.87 44.87 45.88 02-May-08
SBI MAGNUM TAXGAIN SCHEME 1993 – GROWTH 55.21 55.21 56.45 02-May-08
Open Ended Schemes (Floating Rate)
SBI Magnum Income Fund – F R P – Long Term – Inst. (D) 0 0 0 02-May-08
SBI Magnum Income Fund – F R P – Long Term – Inst. (G) 0 0 0 02-May-08
SBI Magnum Income Fund – F R P – Long Term – Regular (D) 10.5028 10.4503 10.5028 02-May-08
SBI Magnum Income Fund – F R P – Long Term – Regular (G) 12.4778 12.4154 12.4778 02-May-08
SBI Magnum Income Fund – F R P – Short Term (D) 10.1258 10.1055 10.1258 02-May-08
SBI Magnum Income Fund – F R P – Short Term – (G) 12.4689 12.444 12.4689 02-May-08
SBI Magnum Income Fund – F R P – Short Term – Weekly (D) 10.2441 10.2236 10.2441 02-May-08
Close Ended Schemes (Income)
SBI CAPITAL PROTECTION ORIENTED FUND – I (15/10/07) Growth 9.8027 0 0 30-Apr-08
SBI DEBT FUND SERIES – 13 MONTHS – 3- DIVIDEND 10 10 N.A. 11-Apr-08
SBI DEBT FUND SERIES – 13 MONTHS – 3- GROWTH 11.2072 11.2072 N.A. 11-Apr-08
SBI DEBT FUND SERIES – 13 MONTHS – 4 – DIVIDEND 10 10 0 28-Apr-08
SBI DEBT FUND SERIES – 13 MONTHS – 4 – GROWTH 11.1958 11.1958 0 28-Apr-08
SBI DEBT FUND SERIES – 13 MONTHS – 6 (14/12/07) INSTITUITIONAL DIVIDEND 10.3512 10.1442 0 30-Apr-08
SBI DEBT FUND SERIES – 13 MONTHS – 6 (14/12/07) INSTITUTIONAL GROWTH 10.3521 10.1451 0 30-Apr-08
SBI DEBT FUND SERIES – 13 MONTHS – 6 (14/12/07) RETAIL DIVIDEND 10.3481 10.1411 0 30-Apr-08
SBI DEBT FUND SERIES – 13 MONTHS – 6 (14/12/07) RETAIL GROWTH 10.3476 10.1406 0 30-Apr-08
SBI DEBT FUND SERIES – 18 MONTHS – 2 INSTITUTIONAL DIVIDEND (30/10/07) 10.2005 10.0985 0 30-Apr-08
SBI DEBT FUND SERIES – 18 MONTHS – 2 INSTITUTIONAL GROWTH (30/10/07) 10.3968 10.2928 0 30-Apr-08
SBI DEBT FUND SERIES – 18 MONTHS – 2 RETAIL DIVIDEND (30/10/07) 10.1966 10.0946 0 30-Apr-08
SBI DEBT FUND SERIES – 18 MONTHS – 2 RETAIL GROWTH (30/10/07) 10.3917 10.2878 0 30-Apr-08
SBI Debt Fund Series – 18 Months -1- Dividend 10.391 10.3131 0 30-Apr-08
SBI Debt Fund Series – 18 Months -1-Growth 11.1986 11.1146 0 30-Apr-08
SBI Debt Fund Series – 24 Months -1- Dividend (10/05/07) 10.4692 10.2598 0 30-Apr-08
SBI Debt Fund Series – 24 Months -1-Growth (10/05/07) 10.9954 10.7755 0 30-Apr-08
SBI DEBT FUND SERIES – 30 DAYS-2-DIVIDEND 10.0962 10.071 N.A. 23-Apr-08
SBI DEBT FUND SERIES – 30 DAYS-2 (27/03/08)-GROWTH 10.0964 10.0712 N.A. 23-Apr-08
SBI DEBT FUND SERIES – 90 DAYS – 17 – DIVIDEND 10 10 0 04-Feb-08
SBI DEBT FUND SERIES – 90 DAYS – 17 – GROWTH 10.205 10.205 0 04-Feb-08
SBI DEBT FUND SERIES – 90 DAYS – 22 (26/03/08)-GROWTH 10.1116 10.0105 0 30-Apr-08
SBI DEBT FUND SERIES – 90 DAYS -22 (26/03/08)-DIVIDEND 10.112 10.0109 0 30-Apr-08
SBI DEBT FUND SERIES – 13 MONTHS – 5 – INSTITUTIONAL DIVIDEND 10.2041 10 0 30-Apr-08
SBI DEBT FUND SERIES – 13 MONTHS – 5 – INSTITUTIONAL GROWTH 10.6494 10.4364 0 30-Apr-08
SBI DEBT FUND SERIES – 13 MONTHS – 5 – RETAIL DIVIDEND 10.1967 9.9928 0 30-Apr-08
SBI DEBT FUND SERIES – 13 MONTHS – 5 – RETAIL GROWTH 10.6411 10.4283 0 30-Apr-08
SBI DEBT FUND SERIES 15 MONTHS – 2 – DIVIDEND 10 10 0 22-Apr-08
SBI DEBT FUND SERIES 15 MONTHS – 2 – GROWTH 11.166 11.166 0 22-Apr-08
SBI DEBT FUND SERIES 15 MONTHS – 3 – GROWTH 11.2012 11.1172 0 30-Apr-08
SBI DEBT FUND SERIES 15 MONTHS – 3 – DIVIDEND 10.3892 10.3113 0 30-Apr-08
SBI DEBT FUND SERIES 90D-19 (4/12/07) – DIVIDEND 10 10 N.A. 03-Mar-08
SBI DEBT FUND SERIES 90D-19 (4/12/07) – GROWTH 10.2227 10.2227 N.A. 03-Mar-08
SBI DEBT FUND SERIES-13M-7 (18/03/08) INSTITUTIONAL DIVIDEND 10.1538 9.9507 0 30-Apr-08
SBI DEBT FUND SERIES-13M-7 (18/03/08) INSTITUTIONAL GROWTH 10.1548 9.9517 0 30-Apr-08
SBI DEBT FUND SERIES-13M-7 (18/03/08) RETAIL DIVIDEND 10.1519 9.9489 0 30-Apr-08
SBI DEBT FUND SERIES-13M-7 (18/03/08) RETAIL GROWTH 10.1549 9.9518 0 30-Apr-08
SBI DEBT FUND SERIES-30D-1-(11/3/08)-DIVIDEND 10 10 N.A. 15-Apr-08
SBI DEBT FUND SERIES-30D-1-(11/3/08)-GROWTH 10.1014 10.1014 N.A. 15-Apr-08
SBI DEBT FUND SERIES-90D-16(16/10/07)-DIVIDEND 10 10 0 14-Jan-08
SBI DEBT FUND SERIES-90D-16(16/10/07)-GROWTH 10.2004 10.2004 0 14-Jan-08
SBI DEBT FUND SERIES-90D-20-(26/02/08)-DIVIDEND 10.1631 10.0615 0 30-Apr-08
SBI DEBT FUND SERIES-90D-20-(26/02/08)-GROWTH 10.1961 10.0941 0 30-Apr-08
SBI DEBT FUND SERIES-90D-21-(04-MAR-2008)-DIVIDEND 10.147 10.0455 0 30-Apr-08
SBI DEBT FUND SERIES-90D-21-(04-MAR-2008)-GROWTH 10.1721 10.0704 0 30-Apr-08
SBI DEBT FUND SERS-90D-18-(27/11/07)-D 10 10 0 25-Feb-08
SBI DEBT FUND SERS-90D-18-(27/11/07)-G 10.2223 10.2223 0 25-Feb-08
Close Ended Schemes (Growth)
SBI INFRASTRUCTURE FUND – SERIES I DIVIDEND (6/7/2007) 11.67 11.27 0 02-May-08
SBI INFRASTRUCTURE FUND – SERIES I GROWTH (6/7/2007) 11.67 11.27 0 02-May-08
SBI INFRASTRUCTURE FUND – SERIES I REPURCHASE DIVIDEND (6/7/2007) 11.27 11.27 0 02-May-08
SBI INFRASTRUCTURE FUND – SERIES I REPURCHASE GROWTH (6/7/2007) 11.27 11.27 0 02-May-08
SBI ONE INDIA FUND – DIVIDEND 10.61 10.31 N.A. 02-May-08
SBI ONE INDIA FUND – GROWTH 10.61 10.31 N.A. 02-May-08
SBI ONE INDIA FUND – REPURCHASE NAV- DIVIDEND 10.31 10.31 N.A. 02-May-08
SBI ONE INDIA FUND – REPURCHASE NAV- GROWTH 10.31 10.31 N.A. 02-May-08
Close Ended Schemes (ELSS)
SBI TAX ADVANTAGE FUND – SERIES I – DIVIDEND 10.6 0 0 30-Apr-08
SBI TAX ADVANTAGE FUND – SERIES I – GROWTH 10.6 0 0 30-Apr-08

SBI MAGNUM TAXGAIN – DIVIDEND HISTORY

SBI MAGNUM TAX GAIN – DIVIDEND HISTORY.

Listed is the dividend history of SBI Magnum TaxGain ELSS Fund. One of the best performing tax saving schemes in India.

Record Date Dividend (Rs/unit)

28-Mar-13                             3.5

22-Mar-12                             3.5

18-Mar-11                              4

05-Mar-10                             4

29-May-09                            2.8

15-Feb-08                              11

02-Mar-07                             11

10-Mar-06                             15

10-Jun-05                             10.2

29-Oct-04                              2.7

29-Mar-04                            1.5

31-Dec-03                              1.5

26-Sep-03                             1.5

15-Dec-99                              2.5

31-Mar-96                             0.8

31-Mar-95                             1

(Open the above EditGrid Spreadsheet in new window)
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SBI MAGNUM TAXGAIN EQUITY LINKED SAVINGS SCHEME (ELSS)

SBI Magnum Taxgain Scheme 1993 - PART 2. (DIVIDEND)

SBI Mutual Fund Trustee Company Private Limited, Trustees to SBI Mutual Fund have approved dividend in Magnum Taxgain Scheme 1993, an open-ended equity linked savings scheme.

The quantum of dividend per unit is Rs 11 on the face value per unit of Rs 10 and the record date of dividend is February 15, 2008.

Pursuant to payment of dividend, the NAV of the scheme/option would fall to the extent of the payout and statutory levy, if applicable.

SBI Mutual Fund has announced a dividend of 110% (i.e. Rs 11 per unit on the face value of Rs 10) in its open-ended equity linked savings scheme – SBI Magnum Tax Gain Scheme. The objective of the scheme is to deliver the benefits of investment in a portfolio of equity shares, while offering tax rebate on such investments made in the scheme under section 80 C of the Income tax Act, 1961. (Check out - Recent SBI MF Dividends).

The record date for the same has been fixed as February 15, 2008. All investors registered under the dividend option of the scheme as on February 15, 2008, will receive this dividend. Please note that dividend as decided shall be paid, subject to availability of distributable surplus. The NAV under the dividend plan of the scheme as on February 11, 2008 was Rs 55.13.

The last dividend declare by the scheme was 110% in March 2007. Over the last one year SBI Magnum Tax Gain Scheme has yielded 22.3% as against 23.9% given by its benchmark BSE 100, as on February 11 2008.

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Principal MF

SBI MAGNUM TAXGAIN ELSS EQUITY LINKED SAVINGS SCHEME(ELSS)

SBI Magnum TaxGain 1993

What is SBI Magnum TaxGain Scheme about?

Magnum TaxGain Scheme is an Equity Linked Savings Scheme (ELSS) from SBI Mutual Fund which offers investors tax benefits on an investment upto Rs 1 Lakh under Section 80C of Indian Income Tax Act 1961. The fund was launched in the year 1993 and is one of the top performers in the ELSS category.

Scheme Highlights:

Entry Load – Investments below Rs. 5 crores – 2.25%,Investments of Rs.5 crores and above – NIL”

SIP/STP Entry Load – 2.25%

Exit Load : NIL

SIP : Minimum amount Rs.500/month – 12 months Rs.1000/month – 6months, Rs.1500/quarter – 12 months.

STP : Minimum amount Rs.1000/- month – 6 months, Rs.3000/ Quarter – 6 months.

Asset Allocation – 80-100% in Equity, partly convertible debentures and fully convertible debentures and bonds & 0 – 20% in Money market instruments.

Minimum Application Amount – Rs 500 for purchase & Multiples of Rs 500 for additional purchase.
Plans & Options – Dividend option with payout and reinvestment facility.

In respect of STP transactions, an investor would now be permitted to transfer any amount from the switch-out scheme, subject to a minimum transfer of Rs.1000 pm or Rs.3000 per quarter, without any restriction on maintaining the minimum balance requirement as stipulated for the switch out scheme. The minimum period for STP will be atleast 6 months.

Enter Section 8OC.

Section 88 was scrapped in Finance Bill 2005. Instead, Section 80C has been introduced. All avenues that were eligible for tax benefits under Section 88 were brought under the Section 80C fold. However, instead of offering tax rebates, investments (up to Rs 100,000) under Section 80C qualify for deduction from gross total income. Hence a new system of claiming tax benefits is now in place.

How have Equities performed as compared to other asset classes?

Track record of the last 15 years shows that equity investments give better returns over the long term. Other asset classes such as Fixed Deposits & Gold have given returns of 5.7% & 10.3% respectively as compared to 15.6% provided by equities (BSE Sensex). (Cumulative annualized returns from 1984 to 2004). We believe that a 3 year horizon is ideal for getting a reasonable return from equity.

Why should I invest in Magnum TaxGain Scheme?

Magnum TaxGain Scheme offers you tax savings upto Rs 33,360 (Calculation based on applicable income slab, tax amount, surcharge & education cess) on an investment of upto Rs 1 Lakh. It also gives you equity market linked returns.

Returns of Magnum Taxgain Scheme

As on 31 January, 2006 FUND CATEGORY BENCHMARK
(BSE 100)

1-Years 105.57% 59.77% 48.36%

3-Years 99.60% 63.65% 48.28%

5-Years 32.13% 29.82% 18.77%

Return Since Launch 19.62% 13.55%

Please note that past performance may or may not be sustained in future.

What is the investment strategy of Magnum TaxGain Scheme?

Magnum TaxGain Scheme follows the bottom up investment strategy. The portfolio size limited to about 35 stocks in all. The strength lies in the ability to identify promising stocks and take them in the portfolio. This strategy has worked in favour of the fund in the last couple of years.

Awards & Achievements:

Magnum TaxGain Scheme has been ranked CPR 1 by CRISIL which indicates ‘very good performance’ It has recently bagged 2 gold awards in the 1 year & 3 year category for performance in the ICRA Online Awards. Magnum TaxGain Scheme has consistently given dividends and the last dividend given was 102% in June 2005.

Does a high NAV reduce the value of my investment?

It may be added by way of clarification that an NAV of Rs.50 in an existing scheme, and an NAV of Rs.10 in an New Fund Offer (NFO) are exactly the same for a new Investor, unlike in a share during an IPO. Two funds with exactly the same portfolio generate the same percentage of return in a given period irrespective of the magnitude of the NAV. Any time is hence the right time to invest!

Please read the Offer Document before investing.

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Principal MF

SBI TAX Advantage Fund – Series I.

Scheme Details:

SBI TAX Advantage Fund – Series I.

Scheme opens on 03-DEC-07.

Scheme closes on 03-MAR-08.

Fund Type: Close Ended.

Fund Class: Equity Tax Saving.

Fund Manager: Rishabh Sheth

Entry Load: Nil.

Exit Load: Nil, however, the investor will have to bear the proportionate unamortized initial issue expenses for any redemption /switch out made before the date of maturity.

Objective: To generate capital appreciation over a period of ten years by investing predominantly in equities of companies across large, mid and small market capitalization, along with income tax benefit.

Issue Price: (Rs.) 10.

Minimum Subscription: Rs. 500/- and in multiples of Re. 500/- thereafter

Plans Available: Growth and Dividend Payout.

Download Form:

SBI Tax Advantage Fund Series 1.