SBI Magnum Children's Benefit Fund Direct is a Solution Oriented Mutual Fund Scheme launched by SBI Mutual Fund. This scheme was introduced to investors on 04 Jan 2013. Rajiv Radhakrishnan is the Current Fund Manager of SBI Magnum Children's Benefit Fund Direct.The fund currently has an Asset Under Management(AUM) of ₹65 Cr and the Latest NAV as of 09 Dec 2019 is ₹59.81.
The SBI Magnum Children's Benefit Fund Direct is rated Moderately High risk. Minimum SIP Investment is 500. Minimum Lumpsum Investment is 5000. Exit Load of 3% if redeemed within an year, 2% if redeemed within 2 years and 1% if redeemed within 3 years.
The investment objective of the scheme will be to provide attractive returns to the Magnum holders / Unit holders by means of capital appreciation through an actively managed portfolio of debt, equity and money market instruments. Income generated through the receipt of coupon payments, the amortization of the discount on the debt instruments, receipt of dividends or purchase and sale of securities in the underlying portfolio, will be reinvested.
If average equity holding is >65%, returns are taxed at 15% (redeemed before one year) and 10% (After 1 year as per LTCG). If average equity holding is <65%, returns are taxed as per your Income Tax slab (redeemed before 3 years) and 20% with indexation benefit (post 3 years).
Scheme Information Document(SID)
Min for First Investment
Min for Second Investment
Exit Load of 3% if redeemed within an year, 2% if redeemed within 2 years and 1% if redeemed within 3 years