SBI NFO – SBI Magnum Children’s Benefit Fund Investment Plan from the house of SBI Mutual funds is an NFO of a scheme in the existing fund. This scheme has been specially designed for savings for a child.
In this video we have reviewed the NFO for the SBI Magnum Fund and have covered the following features:
1. The NFO is open for subscription from the 8th of September till the 22nd of September 2020.
2. The fund will invest across asset classes with a minimum of 65% in equities and balance in debt, foreign equities and Gold ETFs.
3. The fund has a lock-in of 5 years or until the child turns 18.
4. Minimum investment in case of a lumpsum is Rs. 5,000. In case of SIP there are a number of options.
5. Exit loads in case of redemption are of 3% for the 1st year, 2% for the 2nd year and 1% for the 3rd year.
6. Gains from the fund are taxed like equities.