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Home » Mutual Funds » Mutual Funds Companies» Magnum Income Plus Fund (Saving Plan)

SBI: Magnum Income Plus Fund (Saving Plan)


Investment Objective

The investment objective of the scheme will be to provide attractive returns to the Magnum holders / Unit holders either through periodic dividends or through capital appreciation through an actively managed portfolio of debt, equity and money market instruments. Income may be generated through the receipt of coupon payments, the amortization of the discount on the debt instruments, receipt of dividends or purchase and sale of securities in the underlying portfolio.

Scheme Highlights

1.Open ended Income Scheme

2.The Savings Plan will be investing its entire corpus only in investment grade debt instruments such as Government Securities, Corporate Bonds and Debentures and Money Market instruments.

3.The Dividend option under the both the Plans will endeavour to declare dividends on a quarterly basis subject to the availability of distributable surplus and at the discretion of the Fund Manager. The returns under the Growth Plan will be through capital appreciation only.

4.Recurring expenses of the scheme is estimated to be at 1.60% of the net assets of the scheme under both the Plans. The actual expenses may however vary from the estimate but will be restricted to the ceilings of recurring expenses prescribed in the SEBI Regulations.

5.The insurance cover will be available to individual investors under both the Resident and Non Resident Indian categories.

6. The nominee for the scheme will be the nominee for the insurance cover also. In case of nominees of NRI origin, the claim amount will be settled in Indian rupees only.

7.The insurance cover will be available till the investor reaches the age of 55 years provided he is still invested with the scheme.

8.The insurance cover will be available to individual investors under both the Resident and Non Resident Indian categories.

9.The nominee for the scheme will be the nominee for the insurance cover also. In case of nominees of NRI origin, the claim amount will be settled in Indian rupees only.

0.The insurance cover will be available till the investor reaches the age of 55 years provided he is still invested with the scheme.

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