Magnum taxgain scheme

In the last post we saw about magnum equity fund and magnum multiplier plus. Today I thought of discussing about magnum taxgain scheme. This was launched in 1993. An open ended equity linked savings scheme.

The objective of the scheme is to deliver the benefit of investment in a portfolio of equity shares, while offering deduction on such investments made in the scheme under section 80c of the income tax act 1961 and to distribute income periodically depending on distributable surplus.

Magnum taxgain deliver the benefit of investment in a portfolio of equity shares, while offering tax rebate on such investments made in the scheme under sec 80c of the income tax act, 1961. The portfolio strategy is to make long term investments in stocks consistent with the average duration of investor funds.

To invest in companies in all the market cap segments through both top down and bottom up investment philosophies. The motive is to invest in companies with sustainable and scalable business models which can lead to significant out performance in the log run. The net asset value is given as follows.

The dividend option is Rs 41.50 and growth option is Rs 51.00. The corpus value is about Rs 755.35 crores. So in the upcoming posts we shall see more about the other schemes.