Magnum Equity Ex-Top 100 Long-Short Fund
Frequently asked questions
What is Magnum Equity Ex-Top 100 Long-Short Fund?
Magnum Equity Ex-Top 100 Long-Short Fund is a Specialized Investment Fund (SIF) from SBI Mutual Fund. To generate long-term capital appreciation by investing primarily in equity and equity-related instruments outside the top 100 by market cap, with limited short exposure through derivatives to enhance returns and/or manage risk. Its benchmark is BSE 500 TRI.
What is the minimum investment in Magnum Equity Ex-Top 100 Long-Short Fund?
The minimum investment is ₹10,00,000 (first-time), ₹1,00,000 (existing investors who met the threshold), multiples of ₹1.
How often can I buy and redeem units?
Subscriptions: Daily. Redemptions: Daily; cut-off 3:00 PM for same-day NAV; frequency subject to AMC/SEBI change.
What is the exit load?
Exit load: 1% (≤3 months), Nil after. Confirm the latest terms in the scheme's SID.
How is a SIF different from a mutual fund?
A SIF can take limited short positions through derivatives, which a regular mutual fund scheme generally cannot, and it has a higher minimum investment. That flexibility adds derivative, liquidity and manager-execution risk, so read the SID before investing.
How risky is Magnum Equity Ex-Top 100 Long-Short Fund?
The scheme is classified as Level 5 on the risk-o-meter shown on this page. SIFs are subject to market risk, and past performance is not indicative of future returns.
How is Magnum Equity Ex-Top 100 Long-Short Fund taxed?
Tax depends on whether the scheme qualifies as equity-oriented, meaning at least 65% in domestic equity; confirm this in the SID. Under current Indian tax rules, gains on equity-oriented units held for more than 12 months are taxed at 12.5% on gains above ₹1.25 lakh in a financial year, and gains on units sold within 12 months are taxed at 20%. Tax rules can change, so check with a tax adviser.