A Guide To Investing In Sbi Magnum Mutual Funds

SBI Mutual Fund is one of India's largest and oldest mutual funds, established on 29 June 1987. It is a joint venture between the State Bank of India and Amundi, a French asset management company. The fund offers various investment schemes across equity, debt, hybrid, and other categories. SBI Mutual Fund has a wide range of tools to help investors with their investments, including a Mutual Fund Starter Kit and a Systematic Investment Plan. One of the schemes offered by SBI Mutual Fund is the SBI Magnum Children's Benefit Fund Investment Plan, which seeks to generate long-term capital appreciation by investing in equity and equity-related securities. This scheme is rated as a very high-risk investment. To invest in SBI Mutual Fund, individuals can do so through the fund's official website, a distributor, or an online investment platform. The prerequisites for investing typically include being an existing SBI Bank account holder and completing the KYC process with proof of address and identity.

Characteristics	Values
Date of Incorporation	29 June 1987
Current Fund Manager	Dinesh Ahuja
Asset Under Management (AUM)	₹10,37,900 Cr
Latest NAV as of 09 Oct 2024	₹44.18
Risk	Very High
Minimum SIP Investment	₹500
Exit Load	3% if redeemed within 1 year, 2% if redeemed after 1 year but within 2 years, 1% if redeemed after 2 years but within 3 years
Expense Ratio	0.78%
Taxation	If you redeem within one year, returns are taxed at 20%. If you redeem after one year, returns exceeding Rs 1.25 lakh in a financial year are taxed at 12.5%.

What You'll Learn

How to invest in SBI Magnum Mutual Fund online?
How to invest in SBI Magnum Mutual Fund offline?
Documents required to invest in SBI Magnum Mutual Fund
Investment options for SBI Magnum Mutual Fund
Returns and rankings of SBI Magnum Mutual Fund

How to invest in SBI Magnum Mutual Fund online

SBI Mutual Fund is one of India's largest and oldest mutual funds, established on 29 June 1987. It is a joint venture between the State Bank of India and the French asset management company, Amundi.

There are a few ways to invest in SBI Magnum Mutual Fund online. Here are the steps you can follow:

Through the SBI Mutual Fund website: You can visit the official website, register for an account, and log in. After logging in, you can browse the various SBI Mutual Fund schemes and select the ones that align with your goals and risk appetite. However, this method can be a bit cumbersome as you would need to monitor your investments directly through the respective fund managers.
Through a distributor: Investing through a distributor can simplify the application process. However, the expense ratio tends to be higher with this method as fund houses pay commissions to distributors.
Through an online investment platform: Using an online investment platform like Groww or ET Money can be a simpler and more efficient way to invest in SBI Magnum Mutual Fund. Here are the general steps to follow when using these platforms:

Sign up and create an account.
Upload your identification documents, such as Aadhaar, PAN, Voter ID, passport, etc.
Provide proof of address.
Determine your investment duration and risk appetite (high, medium, or low).
Select the SBI Magnum Mutual Fund that aligns with your criteria.
Choose your investment type: one-time lumpsum or Systematic Investment Plan (SIP).
Provide your PAN, full name, and verify your mobile number.
Enter your bank account details and select a payment mode.
Follow the Know Your Client (KYC) process, which may include submitting additional documents, a selfie, and a live video for verification.

Your transaction will be processed once your KYC documents are verified, usually within 3-5 working days.

Please note that the minimum investment amount for SBI Magnum Mutual Fund varies depending on the specific scheme. Be sure to review the scheme details and consult with a financial advisor before making any investment decisions.

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How to invest in SBI Magnum Mutual Fund offline

To invest in the SBI Magnum Mutual Fund offline, you will need to fill up an investment application form. You can also invest online, but for offline investments, you will need to follow these steps:

First, ensure that you are an existing SBI Bank account holder and that you are KYC (Know Your Client) compliant. You will also need to ensure that the status of your Savings Bank Account is either Single or Either/Survivor. If you are investing jointly with any other individuals, the Account Opening Application Form will need to be signed by all the Bank Account Holders.

Next, you will need to gather the documents required for KYC, which include proof of address and proof of identity. The list of officially valid documents (OVD) is as follows:

PAN Card (Mandatory)
Any other valid identity card issued by the Central or State Government
Bank account statement or bank passbook
Utility bills like electricity or gas bills

Once you have gathered these documents, you can submit your KYC by providing photocopies of your identity and address proofs, along with a selfie and a live video for authentication. The verification process is carried out by government-certified agencies and usually takes around 3-5 working days.

After your KYC is verified, you can proceed with the offline investment application form. The SBI Mutual Fund offers various schemes across equity, debt, hybrid, and other categories, so you will need to choose the scheme that aligns with your goals and risk appetite.

Some popular SBI Magnum Mutual Fund schemes include:

SBI Magnum Gilt Fund
SBI Magnum Income Fund
SBI Magnum Medium Duration Fund
SBI Magnum Children's Benefit Fund Investment Plan Direct Growth

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Documents required to invest in SBI Magnum Mutual Fund

To invest in an SBI Magnum Mutual Fund, you must be an existing SBI Bank account holder and KYC (Know Your Client) compliant. The status of your savings bank account must be Single or Either/Survivor, and all bank account holders must sign the Account Opening Application Form.

The documents required for KYC include proof of address and proof of identity. Here is a list of officially valid documents:

PAN Card (Mandatory)
Any other valid identity card issued by the Central or State Government, such as an Aadhaar, Voter ID, Driving License, or Passport.
Bank account statement or bank passbook
Utility bills like electricity or gas bills

If you are investing online, you will need to upload your identification documents and address proof.

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Investment options for SBI Magnum Mutual Fund

SBI Magnum Mutual Fund is one of India's largest and oldest mutual funds. It is a joint venture between the State Bank of India and Amundi, a French asset management company. The SBI Mutual Fund offers a range of investment options, including:

SBI Magnum Midcap Fund: This fund invests in stocks from the mid-cap category, ranked between 100 and 250 by market capitalization. It is suitable for investors seeking high returns over at least 3-4 years, who are also willing to accept the possibility of moderate losses. The minimum investment amount for this fund is ₹5,000 for a lump sum and ₹500 for SIP.
SBI Magnum Gilt Fund: This fund falls under the debt category and has provided annualized returns of around 7.46% over the past 3 years and 7.8% over 5 years. The minimum investment amount is ₹5,000 for a lump sum and ₹500 for SIP.
SBI Contra Fund: SBI's first 'Contra' fund, this fund comes under the equity category. It has delivered annualized returns of approximately 26.54% over 3 years and 33.15% over 5 years. The lump sum minimum investment amount is ₹5,000, while for SIP it is ₹500.
SBI Long-Term Equity Fund: Also in the equity category, this fund has achieved annualized returns of about 26.11% over 3 years and 27.85% over 5 years. The minimum investment amount is ₹500 for both lump sum and SIP.
SBI Conservative Hybrid Fund: With annualized returns of around 10.58% over 3 years and 12.21% over 5 years, this hybrid fund requires a minimum investment of ₹5,000 for a lump sum and ₹500 for SIP.

Investing in SBI Mutual Funds can be done online or offline. For offline mode, investors need to fill out an investment application form. Online investment can be made through platforms like Groww, which require the investor to have an existing SBI Bank account, be KYC compliant, and have a single or either/survivor status savings bank account.

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Returns and rankings of SBI Magnum Mutual Fund

SBI Magnum Mutual Fund has a variety of plans, including the SBI Magnum Midcap Fund, SBI Magnum Gilt Fund, and SBI Magnum COMMA Fund. Here is a detailed overview of the returns and rankings of these funds:

SBI Magnum Midcap Fund

The SBI Magnum Midcap Fund is a mid-cap fund that invests in stocks ranked between 100 and 250 by market capitalization. As of October 9, 2024, the Net Asset Value (NAV) of this fund was ₹243.7339, with a 1.24% change from the previous day. The fund has delivered average performance among its peers. The expense ratio for this fund is 1.66%, which is slightly higher than the category average of 1.83%. The minimum investment amount for a lump sum is ₹5,000, and ₹500 for SIP.

SBI Magnum Gilt Fund

The SBI Magnum Gilt Fund falls under the debt category of SBI Mutual Funds. It has delivered annualized returns of around 7.46% and 7.8% over the past 3 and 5 years, respectively. The minimum investment amount for a lump sum is ₹5,000, and ₹500 for SIP.

SBI Magnum COMMA Fund

I could not find detailed information on the returns and rankings of the SBI Magnum COMMA Fund. However, it is managed by Dinesh Balachandran, who is also responsible for the SBI Long Term Equity Fund, SBI Contra Direct Plan Growth, and other SBI Mutual Funds.

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