I am planning to invest 12000 in SBI magnum tax Gain Fund? I want to know is it safe to invest in it.?

I am planning to invest 12000/ p. a. in SBI magnum tax Gain Fund .I'm 27 years old. I want to know whether it is a safe investment now and can I get a higher returns.. i am investing for three years. I don't know much abt investment. This is my first time. One of my friend suggest me this scheme. She said it is safe to invest here since it is of Central Bank. Is there any other scheme which is better than SBI magnum tax Gain Fund. I can give 1000/month. Please suggest.

Regards,
Anjali.

Hi,
SBI Magnum is one of the best mutual funds in the ELSS category. So don't worry too much about your investments. There are few other funds also where you can invest eg
1) Principal Personal Tax Saver.
2) DSPL -ML Tax Saver Fund.
3) HDFC Tax Saver.

For the complete list visit the following websites
http://www.moneycontrol.com/india/mutual...
http://www.valueresearchonline.com

The above sites will help you in your decision on mutual fund investments.

Hi Anjali,
Are you investing in SBI magnum tax Gain Fund to save income tax?
If yes, then you need to see that in which IT block (I mean 10%, 20%, 30% block) you are placed. If, you are placed at 10% block, I'll suggest you to go for some equity diversified MF (like Relaince etc.). In this, the annual earning is way ahead of SBI magnum tax Gain Fund.
But still if you want to go for Tax saving MF then it is one of the hot MFs currently. You can take a shot on this.
If you are not investing to save income tax then simply go for for some equity diversified MF (like Relaince etc.).

-Agrawal

there is no truly safe investment as you are always relying on the honesty of others and honesty within banks and governments is sometimes questionable. all you can do is assess all the facts and decide weather the product is something to believe in.
Rio Tinto is going to make investors quick money over the next two years but of you want other ideas contact me

Miss Anjali

Its a good idea to invest in Magnum tax gain as through SIP, by this u can get triple benefit. tax free,better returns, price variations from the market ups and downs.after the third year ur investment will get doubled.....there is no doubt.the fun performing very well in the past 7 years.

for the mutual fund investing there is no grantee, all are based on the stock market and who is going to maintain Ur fund. as per Ur pick the said fund performing well for the past several years....if u want more details go to the mutualfundsindia.com or moneycontrol.com this sites are best in the industry

if u want to invest more go to diversify mutual fund its a fund category it will available in all mutual funds. stay Ur invests atleast 3 to 5 years for good returns

i can say only one example its a past fund record

one person invested Rs 1000 per month in SBI MF CONTRA FUND IN DIVIDEND REINVESTMENT MODE for 60 months he got return of RS 2,40,000 at rhe end.

THIS IS THE POWER OF SIP

JUST DO IT...........

regards

THE BOSS

Hi Anjali,

First of all, to clear out your idea, SBI Mutual Fund is not related to SBI as a Bank, so dnt pursure that thought.

Regarding the fund, yes it is a good fund for Tax saving prospect, rather it is 1 of the best in terms of return in last 3 yrs, so do not worry about the fund. Also its dividend option is providing good dividends also time to time.(It has just given 110% div.)

Other good funds are
1. Birla sun life '96
2. HDFC tax saving scheme
3. DSP Merryl Linch tax saving
to name a few.

P.S. U didn`t mentioned u r looking for tax saving or non-tax saving funds, so I m assuming u r taking tax-saving funds only.

Do let me know if u need further info.

Njoy,
Raj

sbi magnum tax gain is a good fund.

But nothing is safe when it comes to equities and equity based fund. But I guess this fund is not 100% equity based. So u can bet on the safety to some extent.

Biut the returns gien by this fund in the past look attractive.

hi,
it is safe and rewarding to some extent. the profit is proportionate to the stock market returns mostly. read about the 'wonders of investments' from http://vbulls.com/ .

study the fundamentals of investment.
it is beneficial only.

longer the holding time, more safer it is to come out with profit.

Investments in equity MFs are market related hence very risky. ELSS fall in the same category. NAV of DSP ML Tax Saver Fund which had gone up to Rs. 19/- in Jan is being quoted at Rs. 13/- today. That will give you an idea of safety.
SBI Magnum Tax Gain 93 is managed by SBI MF which is an AMC and not by any Central Bank.
Better schemes are:
Taurus Libra Tax Sheild
DSP ML Tax Saver Fund
Principal Personal Tax Saver
Do not invest in SIP of any ELSS. Always invest lump-sum in ELSS.
Also do not go for dividend reinvest option in ELSS. Go for either payout or growth.