Thursday, September 30, 2010

BEST TAX SAVING PLAN: SBI MAGNUM TAX GAIN SCHEME 93 GROTH


1.I choose which scheme “which have largest fund size” because I believe scheme with largest fund size is market leader and fund manager have more money to diversified its portfolio to give stable returns for his investors so it is the reason that I recommended SBI MAGNUM TAX GAIN SCHEME 93 GROTH in ELSS.
2. Tax saving mutual funds, also known as Equity Linked Savings Schemes (ELSS). Investments in ELSS funds are qualified for deduction from taxable income as per income tax law.
3. Tax saving mutual funds usually has a lock in period of 3 years. So keep this point in mind in my policy I like to make a SIP in tax saving fund and after three year make a SWP for just ½ of average unit.
4. I clarify point 3 in my separate coming article “HOW TO BUILD SYASTAMATICE ASSETS BY ELSS”
5. SBI MAGNUM TAX GAIN SCHEME 93 GROTH has a fund size of 5681.65 cr. And second number is HDFC TAX SAVER GROWTH PLAN with fund size of 2715.42 cr. (as on 31 Aug 2010, fund size is changeable time to time)
6. this fund give 14.86 % annualized return since incorporation means 1993 and last 5 year give 18.20 % return and last 1 year give 21.94 % return.
7. this is not an investment advice ,this is only my view about this fund.
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