NRI from all over the world (excluding U.S.A. & Canada) can invest in this fund

INVEST VIA NRE/NRO

SBI Magnum Income Fund Growth for NRI [67.23]

Min Investment

5,000

Fund Size

1,808.71 Cr

Expense Ratio

1.5%

Exit Load

1%

SBNRI is a certified Mutual Fund distributor registered with Association of Mutual Funds in India (AMFI) with Reg. No. 246671

67.23

-0.01%

NAV as on 06 Nov 24, 12:00 AM

moderately high risk

medium to long duration

debt

NAV as on 06 Nov 24, 12:00 AM

moderately high risk

medium to long duration

debt

8.62%p.a.

Last 1Y

5.96%p.a.

Last 3Y

7.00%p.a.

Last 5Y

7.61%p.a.

Since Inception

About SBI Magnum Income Fund Growth for NRIs

NRIs can achieve long-term capital appreciation by investing in the SBI Magnum Income Fund Growth scheme from SBI Funds Management Ltd. It is a Medium to Long Duration mutual fund scheme that predominantly invests in Medium to Long Duration stocks of companies. Launched on Nov 1998, SBI Magnum Income Fund Growth is Medium to Long Duration fund of its category with 1,808.71 Cr fund under management as on Nov 2024. The expense ratio of this fund is less than that of most other Fund category Medium to Long Duration funds.

  • SBI Magnum Income Fund Growth delivered 8.6% annual returns during the last year. It has delivered 7.6% average annual returns since the fund was launched.
  • SBI Magnum Income Fund Growth scheme tends to consistently deliver higher returns than most schemes in the same category.
  • The scheme has predominantly invested in debt

Fund Objective

To provide investors an opportunity to generate regular income through investments in debt and money market instruments such that the Macaulay duration of the portfolio is between 4 years and 7 years. However, there is no guarantee or assurance that the investment objective of the scheme will be achieved. The scheme doesn’t assure or guarantee any returns.

Top 10 Holdings

7.34% Govt Stock 2064

18.62%

7.23% Goi 15/04/2039

15.78%

7.10%Goi 08/04/2034

14.42%

7.25% Govt Stock 2063

5.75%

Torrent Power Limited

4.28%

Godrej Properties Limited

4.17%

Renew Solar Energy (Jharkhand Five) Private Limited

4.10%

Tata Housing Development Company Limited

3.59%

Indostar Capital Finance Ltd.

3.26%

Avanse Financial Services Ltd.

3.05%

Fund Managers

  1. Lokesh Mallya (Dec 2023 - Present)
  2. Pradeep Kesavan (Dec 2023 - Present)
  3. Adesh Sharma (Dec 2023 - Present)

Key Information

View Scheme Document

SBI Magnum Income Fund Growth SIP Calculator

If invested

5,000

per month

For a period of

Investment of 0 could have been

0(+0.0%)

0 (+0.0%)

This Fund

0 (+0.0%)

Fixed Deposit

NRI Mutual Fund Tax on SBI Magnum Income Fund Growth

Just like for resident investors, capital gains from mutual fund investments are subject to income tax for NRI investors.

Fund TypeShort-term Capital Gains (STCG) TaxLong-term Capital Gains (LTCG) Tax
Equity mutual funds15%10% (above Rs. 1 lakh LTCG) without indexation*
Debt & other types of fundsAt tax slab rate20% with indexation benefits

How can NRIs invest in SBI Magnum Income Fund Growth?

NRIs and OCIs can download the SBNRI app to invest in mutual funds from the country of their residence. Here are a few simple steps you need to take:

  • Complete your NRI KYC: Type in your personal details and attach supporting documents, like:
  • PAN Number
  • Overseas address proof: Any of – Water/electricity bill, postpaid mobile/internet bill, rent agreement, driving license, etc.
  • Passport – front and back
  • Passport size photograph
  • signature

If all details are correct, your KYC will be approved within 7 to 8 business days.

  • Onboarding: After KYC, you need to share the following details to complete onboarding process and start investing in SBI Magnum Income Fund Growth
  • Onboarding: After KYC, you need to share the following details to complete onboarding process and start investing:
  • City and country of birth
  • NRE/NRO bank account statement/ canceled cheque for the latest 3 months
  • Nominee details

Frequently Asked Questions