Tuesday, July 10, 2012

SBI Magnum One India Fund Merged

SBI Magnum One India Fund launched in December 2006 is about to be merged with SBI Magnum Equity Fund with effect from 10/08/2012.

If you are an Unit holder of Magnum One India Fund then you have an exit option from 10th July till 10th August, for one month period to exit from the scheme without paying any exit load, however if you have invested in NFO then there is no exit load as such. If you do not use exit option then you will be allotted Units of SBI Magnum Equity Fund at applicable NAV as on 10/08/2012.

This scheme has not performed at all in 6 years it has hardly given any returns infact at todays NAV as on 10th July 2012 is 10.4 which is hardly any returns since 2006.

However SBI Magnum Equity Fund is better bet compared to Magnum One India Fund,but this is also not that great fund there are many more better funds available.

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