SBI Magnum Monthly Income Plan |
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- Initial offer opens: February
22,2001
- Closing Date: March
23,2001
- Nature of Scheme: Open Ended
- AMC: SBI Funds Management
Limited
- Load: Nil (for repurchase within six
months of investment, an exit load of 0.5% will be charged on the NAV. )
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- Continuous Offer opens: April
23,2001
- Sponsor: State Bank of India.
- Trustee: SBI Asset Management
Company.
- Minimum subscription:Rs.10,000 and
in multiples of Rs.500. NRIs can apply on repatriable basis.
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Objective of
the present fund: To provide regular income, liquidity and attractive returns to the
investors through an actively managed portfolio of debt, equity and money market
instruments.
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- This scheme offers dividend option and Growth option.
- Unit holders have switching facility from one scheme to
other. This facility is not available to the NRIs, FIIs and OCBs.
- Tax Free Income in the hands of investors
- Automatic Withdrawal Facility is available under the
Dividend Plan (Monthly option) for investment of Rs. 1,00,000 and above. Under this option
investors can exercise the option at the time of application, to withdraw 1% of their
outstanding capital through repurchase of units during months where there is no income
distribution, subject to minimum balance requirements.
Strategy of investment |
.Under normal
circumstances not more than 15 percent of the investible funds would be invested in equity
and equity linked instruments and the balance in Debt and Money market instruments.
| Some of the Schemes launched by SBI Mutual Fund |
| Magnum
Monthly Income Scheme-1998 |
| Magnum
LiquiBond Income Fund Allotment |
| Magnum
InstaCash Fund-Cash Plan |
| Magnum Growth Fund |
Performance
overview of SBI Mutual Fund |
| Name of the Fund |
NAV as on
31.01.2001
(Rs.)
|
NAV as on
29.12.2000
(Rs.)
|
NAV as on
30.11.2000
(Rs.)
|
NAV as on
31.10.2000
(Rs.)
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NAV as on
29.09.2000
(Rs.)
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| Magnum Equity Fund-90 |
13.09 |
12.34 |
12.96 |
12.67 |
13.80 |
| Magnum Liqui Bond Income
Fund |
13.42 |
12.93 |
13.17 |
10.32 |
10.6383 |
| Magnum Insta
Cash Fund-Cash Plan |
10.73 |
10.56 |
10.4239 |
11.42 |
11.3244 |
| Magnum Balance
Fund |
11.64 |
11.56 |
11.49 |
13.15 |
14.35 |
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Comparative Analysis of similar other funds |
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| Name of the Fund |
NAV as on 31.01.2001
(Rs.)
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NAV as on 29.12.2000
(Rs.)
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NAV as on
30.11.2000 (Rs.) |
NAV as on
31.10.2000 (Rs.) |
NAV as on
29.09.2000 (Rs.) |
| Alliance MIP |
10.21 |
10.00 |
10.09 |
10.05 |
10.04 |
| Sun F & C
MIP |
10.11 |
10.14 |
10.02 |
9.33 |
9.85 |
| Kothari
Pioneer MIP |
10.28 |
10.18 |
10.17 |
10.06 |
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| Reliance MIP |
10.11 |
13.22 |
10.05 |
10.15 |
10.06 |
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Risk Perception |
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In view of the recent cut in CRR and the bank rate, SBI will benefit from the launch of
its Monthly Income plan as bond prices are expected to rise in the future, thereby
possibly increasing the returns to the investors. The Monthly Income Plan schemes are
performing far better when compared to the other schemes. Magnum Monthly Income Plan is
launched for the people who are opting for the VRS announced by the government. Investor
would do better to opt for the scheme if they wish to have a regular income after their
retirement. . |
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