About SBI Magnum Ultra Short Duration Fund Direct-Dividend Weekly
SBI Magnum Ultra Short Duration Fund Direct-Dividend Weekly is a Debt
mutual fund scheme from SBI Mutual Fund
. This scheme was launched on 01 Jan 2013 and is currently managed by its fund manager Rajeev Radhakrishnan
. It has an AUM of ₹8,427.01 Crores and the latest NAV decalared is ₹1078.039 as on 15 Oct 2019 at 10:30 pm.
SBI Magnum Ultra Short Duration Fund Direct-Dividend Weekly scheme return performance in last 1 year is 8.70%, in last 3 years is 24.76% and 70.47% since scheme launch. The min. SIP amount to invest in this scheme is ₹5000.
About Fund Category
Ultra Short Duration Funds maintain a portfolio of debt and money market instruments wherein the portfolio has a Macaulay duration of around 3 to 6 months. Among the duration funds, these funds are relatively less affected by the movement of overall interest rates. These funds may be suitable to earn regular income with high liquidity.