SBI Magnum Taxgain Scheme 1993


  • SBI Magnum TaxGain Scheme is an  open-ended ELSS (equity linked saving scheme) wherein investment up to Rs. 1,50,000 are eligible for deduction from the gross total income u/s 80C of Income Tax Act.

Key Benefit

  • This fund offers you multiple advantages of reducing your taxes (Section 80C advantage) as well as growing your investments through investment in equity market. This is also one of the oldest ELSS fund in India.

This product is suitable for investors who are seeking*:
  • Long term investment
  • Investment in equity shares to deliver benefits of investment, tax deduction under Section 80 C of IT Act, 1961 and probable income from scheme surplus.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

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The prime objective of scheme is to deliver the benefit of investment in a portfolio of equity shares, while offering tax rebate on such investments made in the scheme under section 80 C of the Income-tax Act, 1961. It also seeks to distribute income periodically depending on distributable surplus.

Asset Allocation

Instrument Normal Allocation (% of Net Assets) Risk Profile
Equities, Cumulative Convertible Preference Shares, and Fully Convertible Debentures (FCDs) & Bonds* 80-100% Medium
Money market instruments 0 – 20% Low

* Investment shall also be made in Partly Convertible Debentures (PCDs) and bonds including those issued on rights basis subject to the condition that as far as possible the non-convertible portion of the debentures so acquired or subscribed shall be divested within a period of 12 months. The balance funds shall be invested in short term money market instruments or other liquid instruments or both. The investment process as above will be completed within six months. In the interim period the funds will be invested in short term money market instruments or other liquid instruments or both. After 6 months from the closure of the scheme, the fund may invest an amount not exceeding 15% of the resources mobilised in money market and other liquid instruments could go upto 20% of the net assets of the scheme.

Date of Inception 31/03/1993
Minimum Application Rs. 500/-& in multiples of Rs. 500
Entry Load N.A.
Exit Load NIL
SIP Rs.500/& in multiples of Rs. 500
SWP Rs. 500 per month or quarter



SBI Magnum Tax Gain Scheme - Regular Plan - Dividend42.224426-Jul-2016
SBI Magnum Tax Gain Scheme - Direct Plan - Growth119.674426-Jul-2016
SBI Magnum Tax Gain Scheme - Direct Plan - Dividend52.509826-Jul-2016
SBI Magnum Tax Gain Scheme - Regular Plan - Growth117.440726-Jul-2016