SBI: Magnum Income Plus Fund (Investment 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 Investment Plan will be investing atleast 80% of its corpus in investment grade Debt instruments and Money market instruments and the balance will be invested in equity and equity related instruments. The stocks will be selected from the BSE 100 index only.

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 scheme provides a group life insurance cover for all investors, aged between 18 years and 54 years, of the scheme. The sum assured under this insurance cover will be the amount of investment subject to a maximum of Rs. 2 lakhs. For investments above Rs. 2 lakhs, the insurance cover will be limited to Rs. 2 lakhs. The insurance cover will cease to continue once an investor exits the scheme. The cost of the insurance cover will be borne by the AMC.

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