About SBI Magnum Taxgain Direct Plan-Growth
SBI Magnum Taxgain Direct Plan-Growth is a
Tax Saver mutual fund scheme from
SBI Mutual Fund. This scheme was launched on 01 Jan 2013 and is currently managed by its fund manager
Dinesh Balachandran. It has an AUM of ₹7,376.39 Crores and the latest NAV decalared is ₹148.150 as on 13 Dec 2019 at 10:05 pm.
SBI Magnum Taxgain Direct Plan-Growth scheme return performance in last 1 year is 5.32%, in last 3 years is 27.30% and 118.29% since scheme launch. The min. SIP amount to invest in this scheme is ₹500.
Scheme Objective
The scheme seeks capital appreciation through investments in equities, cumulative convertible preference shares and fully convertible debentures and bonds. The scheme was converted into an open-ended plan in November 1999.
About Fund Category
Having a statutory lock-in period of 3 years, ELSS Funds enable long term wealth accumulation along with the benefit of tax saving. Investing in ELSS Funds makes you eligible to claim a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act 1961.