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SBI: Magnum Income Fund
The objective of the scheme is to provide the investors an opportunity to earn, in accordance with their requirements, through capital gains or through regular dividends, returns that would be higher than the returns offered by comparable investment avenues through investment in debt & money market securities.
1.Open ended Debt Scheme
2. Following Plans are available to the investors :(A) Growth Plan (B) Dividend Plan (C) Bonus Plan (D) Floating Rate Plan Options available under Floating Rate Plan Short Term (Growth, Dividend & Weekly Dividend)Long Term (Regular (Dividend & Growth) Long Term (Institutional (Dividend & Growth)
2. The Plans will invest their entire corpus in high quality debt (Corporate debentures, PSU/FI/Govt guaranteed bonds), Govt securities and money market instruments (commercial paper, certificates of deposit, T-bills, bills rediscounting, repos, short-term bank deposits, etc). There shall be no investment in equity.
3. The Growth Plan / Option will give returns through capital gains only. No dividends shall be declared under this Plan. The Dividend Plan will endeavour to declare regular dividends every half year, depending on the NAV at that point of time. The Dividend Option in Floating Rate Short Term Plan will endeavour to declare dividends on a monthly basis while the dividend option under the Floating Rate Plan Long Term (Regular and Institutional) Plan will declare dividends on a quarterly basis.
4 switchover between the Plans at NAV. Also, switchover facility at the NAV related prices to other openend schemes of SBI Mutual Fund is available. This facility of switchover to other schemes is not available to NRIs and FIIs.
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