- This solutions-oriented children’s mutual fund scheme would have turned Rs 10 Lakh (invested during NFO) into Rs 30.10 Lakh in 3 years for your child.
SBI Magnum Children’s Benefit Fund – Investment Plan is celebrating 3 Years of helping parents #BePrepared for their child’s aspirations. Launched on Sep 29, 2020, the scheme has delivered a compounded annual growth rate (CAGR) of 44.39 % since its inception, i.e., Rs 10 lakh invested during the NFO of the scheme would have grown to around Rs. 30.10 Lakh vis-à-vis Rs. 18.06 lakh if invested in the S&P BSE Sensex TRI.
A SIP in the scheme over 3 years would have delivered a CAGR of 29.80 % to investors vis-à-vis -13.70 % in the S&P BSE Sensex TRI (additional benchmark). If an investor had invested Rs. 10,000 every month since last three years, the investment of Rs. 3,60,000 would have grown to Rs. 5.41 lakh vis-à-vis Rs. 4.37 lakh in the S&P BSE Sensex TRI.
A SIP in the scheme over 1 year would have delivered a CAGR of 34.24 % to investors vis-à-vis 17.23 % in the S&P BSE Sensex TRI i.e., investment of Rs. 1.2 lakh growing to Rs. 1.38 lakh vis-à-vis Rs. 1.29 lakh.
SBI Magnum Children’s Benefit Fund has demonstrated impressive growth and performance over the last three years and is the first solution-oriented fund recommended by Value Research Online.
The fund is managed by R. Srinivasan, CIO – Equity, Dinesh Ahuja, Fund Manager for Fixed Income portion, and Mohit Jain, Dedicated Fund Manager for overseas securities. The AUM of the Fund as of August 31, 2023, is Rs. 1182.26 crores, which is optimally diversified across only 29 companies (domestic and foreign securities) with the top 5 sectors (Financial Services, Chemicals, FMCG, IT & Consumer Durables) comprising 65.03 % of the portfolio. The first tier Benchmark of the scheme is CRISIL Hybrid 35+65 – Aggressive Index.
SBI Magnum Children’s Benefit Fund – Investment Plan is an open-ended fund that aims to generate long term capital appreciation by investing predominantly in equity and equity related securities of companies across sectors and market capitalizations and also invests in debt and money market instruments with an endeavour to generate income. The scheme has a lock-in for at least 5 years or till the child attains the age of majority (whichever is earlier).
Parents (Investors) who wish to accumulate a corpus for their child’s needs can potentially benefit from this scheme.