SBI Magnum Contra Fund

SBI Magnum Contra Fund is managed by R Shrinivasan. The scheme aims to invest in undervalued scrips, which are out of flavor but have the potential to show attractive growth in long-term. If you have already invested in this scheme, exit now to invest in a better performing fund. New investors can safely skip this fund.

Where does SBI Magnum Contra Fund invest your money?

SBI Magnum Contra Fund is an equity oriented mid cap fund which means your money would be invested in the stocks of medium and small sized companies. Large cap companies tend to be stable compared to mid-cap and small cap companies, however mid cap returns are provided by mid and small cap companies. This fund has 57.44% exposure to large companies, 26.50% exposure to medium sized companies and about 13.56% exposure to small sized companies.

Suitable for what?
  • Creating wealth
  • Lifestyle needs
Not suitable for what?
  • Child's education
  • Child's marriage
  • Planning for retirement
  • Home Purchase
How has SBI Magnum Contra Fund performed in the past?

If you had invested Rs 1 lakh when the fund was launched in July 1999, your value of investments would be around Rs 5.67 lakhs. If you had invested Rs 1 lakh for 5 years, your value of investments would be around Rs 1.16 lakhs. The performance has not been similar to other funds. It has been giving around 2% returns for those who have stayed invested for 5 years. 

Assume you had invested Rs 10,000 every month in SBI Magnum Contra Fund through SIP for the past 5 years today you would just have around Rs 7.14 lakhs.

Our recommendation for fresh investment
Not Recommended
Our recommendation for existing investment
Not Recommended
What are the charges applicable?

A onetime fee of Rs 100 is charged on investments over Rs 10, 000 made through distributors. If you are a first time investor in mutual funds an additional Rs 50 is charged to cover KYC expenses. This is deducted from your investment and can be skipped if you buy directly from the mutual fund via their website or offices.

If units are sold within a year an exit load of 1% is deducted from your total returns. No exit load applies for units withdrawn post one year. Expense ratio of SBI Magnum Contra Fund is 2.10%. This is charged to recover the fund management company’s expenses on securities’ transactions, commissions, registrar fees, etc. Your mutual fund returns will be total returns less expense ratio.

What are the tax implications?

The returns in a mutual fund are absolutely tax free, provided you do not withdraw within 1 year.

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