SBI Magnum Mid Cap Fund

SBI Magnum Mid Cap fund is being managed by Sohini Andani. She has 15 years experience in this domain and took over in 2010. The fund’s performance is not convincing and it has remained far behind its peers. 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 Mid Cap fund invest your money?

SBI Magnum Midcap fund is a small and mid cap fund which means your money is mostly invested in medium size and small size companies across sectors. The fund invests about 74% in medium size companies and 26% in small size companies. Mid cap companies are expected to give bumper returns as they turn into large cap companies. But this happens infrequently. Large companies are more stable in returns.

Suitable for what?
  • Creation of wealth
  • Lifestyle needs
Not suitable for?
  • Child's education
  • Child's marriage
  • Retirement planning
  • Home Purchase
Our recommendation for fresh investment
Not Recommended
Our recommendation for existing investment
Not Recommended
How has SBI Magnum Mid Cap fund performed in the past?

If you had invested Rs 1 lakh when the fund was launched in March 2005 the value of your investments would be close Rs 2.1 lakhs. If you had invested Rs 1 lakh five years back it would have reduced to around Rs 86,000. The performance has been worse than other diversified mutual funds in this category. The fund has been giving -3% every year for those who stayed invested for last 5 years.

Assume you had invested Rs 10,000 every month in SBI Magnum Midcap through SIP for the past 5 years today you would have around Rs 6.3 lakhs.

What charges apply?

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 No exit load applies for units withdrawn post one year.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 Mid Cap fund is 2.58%. 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. SBI Magnum Midcap does not qualify for sec 80C ELSS benefits.

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