SBI Magnum Taxgain Scheme - Invest Online
The scheme seeks capital appreciation through investments in equities, cumulative convertible preference shares and fully convertible debentures and bonds. The scheme was converted into an open-ended plan in November 1999.
This one is a conservative fund and strives for consistency in performance. It has beaten the category average in 13 out of 20 years, and it also boasts of ten-year annualised returns of 21.1 per cent against 15.2 per cent of the benchmark. It outperformed the benchmark by 16.7 per cent last year, offering an annualised return of 51 per cent.
The fund follows a very conservative investment strategy, with a mix of both bottom-up and top-down approaches. For the last five years, it has had a bias towards large-cap stocks. It held an average of 71 per cent large-cap stocks in its portfolio and the rest were mid- and small-cap stocks. The number of stocks in the portfolio is usually in line with the category average except for a brief phase between February 2007 and August 2010, when the number of stocks exceeded by a wide margin and were more than 70 in number.
The fund has constraints on deviation from the benchmark, BSE 100, in order to control risk. It has sector- and stock-active weight constraints at 8 per cent and 4 per cent, respectively. It can keep a maximum of 10 per cent cash.
This fund is suitable for investors looking for consistent returns without much volatility. The fund is not likely to surprise with stupendous returns in a rising market. In fact, it will be an average performer in a rising market. But it shines during unfavourable market conditions when it falls relatively less than its peers
1.ICICI Prudential Tax Plan
2.Reliance Tax Saver (ELSS) Fund
3.HDFC TaxSaver
4.DSP BlackRock Tax Saver Fund
5.Religare Tax Plan
6.Franklin India TaxShield
7.Canara Robeco Equity Tax Saver
8.IDFC Tax Advantage (ELSS) Fund
9.Axis Tax Saver Fund
10.BNP Paribas Long Term Equity Fund
You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds
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