SBI Magnum Index Fund

SBI Magnum Index Fund is being managed by Raviprakash Sharma. Raviprakash has over 11 years experience in Fund Management. This fund’s performance has not matched or bettered that of its benchmark S&P CNX Nifty. If you have invested in this fund, exit now to invest in a better performing fund. If you are a new investor you can safely skip this one.

Where does SBI Magnum Index fund invest your money?

SBI Magnum Index Fund is a large cap index fund which means most of your money is invested in giant and large size companies and just for kicker returns it invests a small portion in medium size companies as well. This fund invests in stocks making the Nifty in the same proportion as they are in the index. It has almost 99% allocation in giant and large cap companies. Large cap companies tend to be stable compared to mid cap and small cap companies.

Suitable for what?
  • Child's education
  • Child's marriage
  • Buying house
  • Planning for retirement
Not suitable for what?
  • Creation of wealth
  • Lifestyle needs
Our recommendation for fresh investment
Not Recommended
Our recommendation for existing investment.
Not Recommended
How has SBI Magnum Index fund performed in the past?

If you had invested Rs 1 lakh when the fund was launched in Feb 2002 the value of your investments would be around Rs 4.4 lakhs. If you had invested Rs 1 lakh five years back it would have become Rs 1.2 lakhs. The performance has been not better than or similar to other mutual funds in this category. The fund has been giving at around 2.2% every year for those who stayed invested for last 5 years.

Assume you had invested Rs 10,000 every month in SBI Magnum Index Fund through SIP for the last 5 years today you would have around Rs 6.8 lakhs.

What are the tax implications?

The returns in a mutual fund are absolutely tax free, provided you do not withdraw within 1 year. SBI Magnum Index Fund does not qualify for sec 80C ELSS benefits.

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