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SBI Magnum Children’s Benefit Fund Investment Plan: Check The New Offering

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On September 7, SBI Mutual Fund unveiled 'SBI Magnum Children's Benefit Fund - Investment Plan,' a transparent fund that helps parents to invest in the future of their children. The debt-oriented savings strategy already has the SBI Magnum Children's Benefit Fund, of which the latest proposal is a part. The latest investment portfolio would invest primarily in equity and equity related instruments, along with exchange traded funds (ETFs), with a minimum of 65% and a maximum of 100%; debt, including debt ETFs and money market instruments, up to a limit of 35%; up to 10% in real estate investment trusts (REITs) and infrastructure investment trust (InvITs); and up to 20% in gold ETFs.

SBI Magnum Children’s Benefit Fund Investment Plan: Check The New Offering
 

The new proposal will be ideal for a child aged 1-14 years, as per the fund house, thus enabling for long-term capital awareness. Also, the plan has a five-year lock-in period or until the child turns 18 years of age, whichever is earlier. This new fund offering unlocks on September 8 and closes on September 22. Vinay Tonse, the MD and CEO of SBI Mutual Fund, stated that the investment strategy feature for parents, provided its concept of being well sophisticated throughout asset classes: equity, debt or gold.

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Read more about: sbi
Story first published: Monday, September 7, 2020, 19:23 [IST]
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