SBI Magnum Taxgain Scheme 1993

Fund manager

Mr. Jayesh Shroff

With over 9 years of experience in the field as a Fund Manager, Mr. Jayesh Shroff joined SBI Funds Management Ltd. in 2006 (from BOB Mutual Funds). In addition to his hands on experience managing funds, Mr. Jayesh Shroff has also functioned in many roles in the industry - such as M&A Activities, venture capital funding, project report generation, preparing business plans, etc. Mr. Shroff is a Commerce Graduate and holds a Postgraduate Diploma in Merchant Banking & Financial Services from ICFAI.

Investment philosophy

SBI Magnum TaxGain Scheme 1993

1. To invest a minimum of 80% and a maximum of 100% of funds in equities, cumulative convertible preference shares, and fully convertible debentures and bonds.
2. To invest a minimum of 0% and a maximum of 20% of funds in money market instruments.
3. To create wealth through prudent investments and also income tax benefits under section 80C of the Income Tax Act, 1961.
4. Long-term capital appreciation.

Portfolio - Top 10 Holdings

Top 10 holdings for the SBI Magnum TaxGain Scheme 1993 as on June 30th, 2015:

Risk measures:

Performance

Expert view of the fund

Although this fund is managed by Mr. Jayesh Shroff and provides income tax benefits under Section 80C of the Income Tax Act, 1961, it hasn't been ranked as one of the better performers in the category.

Since this is a large-cap fund, a larger percentage of the funds will be invested in large-cap companies which are comparatively more stable than mid and small-cap companies. This fund exposes 72% of its investible funds to equities of large-cap companies, 22% to equities of mid-cap companies and 6% to equities of small-cap companies. The fund is ideal for saving on taxes, funding your child's education or marriage, or purchasing a home. It is recommended to steer clear of this fund if your objective is to create wealth, invest in lifestyle purchases, or fulfil short-term needs.

How to apply

You can apply online through the SBI mutual funds website, or alternatively call the SBI mutual funds office and they will guide you through a step-by-step procedure on how to invest. At any stage during your research on the SBI website, scroll to the top right of the screen and you will find a button that you can click on to express your interest in investing in the fund. You can physically walk into the SBI branch and fill up your KYC forms after which you will be directed on how to invest through the mutual funds investment desk at the branch. There's a 24/7 dedicated toll free number you can call, and you can also send an SMS showing your intent to invest. All these details of the number to call or SMS can be found on the SBI mutual funds website. You can also contact any one of SBI's Investor Service Centres.