SBI Magnum Monthly Income Plan (SBI MMIP) invests in government securities, corporate debt and money market instruments as well as a small portion in equity. The equity portion is invested across market stocks.
- SBI Magnum Monthly Income Plan (SBI MMIP) fits in nicely between a bond fund and a balanced fund. SBI MMIP has the advantage of choosing among sovereign, corporate and money market instruments while the flexibility to invest upto 15% of the portfolio in equity.
- Choosing a SWP on MIP with growth option is a tax efficient way of enjoying the benefits of the investment. Dividend income from MIP is subject to dividend distribution tax at 28. 84% (for individuals/HUF). However investors opting for SWP from growth option are subjected to pay short term capital gains tax or long term capital gains tax depending on the period of their investments. One of the efficient strategies is to start SWP after 3 years from the investment date. This ensures that the withdrawals are only subjected to long term capital gains tax. Long term capital gains on debt funds are taxed much lower at 20% with indexation benefit.
|This product is suitable for investors who are seeking*: |
- Long term capital appreciation and current income
- Investment in equity and equity related instruments as well as fixed income securities (debt and money market securities).
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
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The objective of the scheme will be to provide regular income, liquidity and attractive returns to the investors through an actively managed portfolio of debt, equity and money market instruments.
|Instrument ||Normal Allocation (% of Net Assets) ||Risk Profile |
|Equity and equity related instruments ||Not more than 15% ||Medium to High |
|Debt instruments (including securitized debt) and Govt. Securities and Money market instruments ||Not less than 85% ||Low to Medium |
|Securitized debt ||Not more than 10% of the investments in debt instruments ||Medium to High |
|Date of Inception ||09/04/2001 |
|Minimum Application ||Rs. 5000/- & in multiples of Rs. 1 |
| Additional Investment |
|Rs. 1000/- & in multiples of Rs. 1 |
|Entry Load ||N.A. |
|Exit Load ||For exit within 12 months from the date |
of allotment For 10% of
investment : Nil
For remaining investment: 1.00%
For exit after 12 months from the date
of allotment – Nil
|SIP || |
Monthly - Minimum 1000 & in multiples of 1 thereafter for maximum six months (or) minimum 500 & in multiples of 1 thereafter for minimum one year.
Quarterly – Minimum 1500 & in multiples of 1 thereafter for minimum one year.
|SWP || |
Rs. 500 per month or quarter
|SBI Magnum Monthly Income Plan - Regular Plan - Growth||31.2723||08-Feb-2016
|SBI Magnum Monthly Income Plan - Direct Plan - Annual Dividend||15.4464||08-Feb-2016
|SBI Magnum Monthly Income Plan - Regular Plan - Quarterly Dividend||11.6446||08-Feb-2016
|SBI Magnum Monthly Income Plan - Direct Plan - Monthly Dividend||13.8952||08-Feb-2016
|SBI Magnum Monthly Income Plan - Direct Plan - Quarterly Dividend||12.4346||08-Feb-2016
|SBI Magnum Monthly Income Plan - Direct Plan - Growth||32.0328||08-Feb-2016
|SBI Magnum Monthly Income Plan - Regular Plan - Annual Dividend||13.7607||08-Feb-2016
|SBI Magnum Monthly Income Plan - Regular Plan - Monthly Dividend||11.8072||08-Feb-2016