NRI from all over the world (excluding U.S.A. & Canada) can invest in this fund
SBNRI is a certified Mutual Fund distributor registered with Association of Mutual Funds in India (AMFI) with Reg. No. 246671
₹67.23
-0.14%
NAV as on 17 Nov 24, 12:00 AM
moderately high risk
medium to long duration
debt
NAV as on 17 Nov 24, 12:00 AM
moderately high risk
medium to long duration
debt
8.44%p.a.
Last 1Y
5.87%p.a.
Last 3Y
6.97%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 1,807.38 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 8.4% 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
7.23% Govt Stock 2039
15.71%
7.34% Govt Stock 2064
15.60%
7.1% Govt Stock 2034
14.36%
7.25% Govt Stock 2063
5.71%
Torrent Power Limited
4.28%
Godrej Properties Limited
4.17%
Renew Solar Energy (Jharkhand Five) Private Limited
4.10%
Indostar Capital Finance Ltd.
3.26%
Avanse Financial Services Ltd.
3.05%
Jm Financial Credit Solutions Limited
2.79%
Fund Managers
- Lokesh Mallya (Dec 2023 - Present)
- Pradeep Kesavan (Dec 2023 - Present)
- Adesh Sharma (Dec 2023 - Present)
Key Information
View Scheme Document
SBI Magnum Income Fund Growth SIP Calculator
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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 Type | Short-term Capital Gains (STCG) Tax | Long-term Capital Gains (LTCG) Tax |
|---|---|---|
| Equity mutual funds | 15% | 10% (above Rs. 1 lakh LTCG) without indexation* |
| Debt & other types of funds | At tax slab rate | 20% 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
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