SBI mutual fund is a bank sponsored mutual fund and has a base of 3 million investors. SBI mutual fund is a result of joint venture between State bank of India and Societe Generale Asset Management of France. Thirty-two schemes have been launched since the inception of SBI mutual fund and out of these thirty-two, fifteen schemes have been successfully redeemed. As of the present scenario, the SBI mutual fund manages assets worth over Rs. 17000 crores.
Some of the various mutual funds offered by SBI mutual fund are discussed below
• SBI Arbitrage Opportunities Fund: Open-ended Equity Fund with growth and dividend option. With no entry load, the minimum investment required is Rs. 25000.
• SBI Magnum Balanced Fund: Open-ended Equity & Debt Fund with growth and dividend option. The minimum investment is Rs. 1000 but there is an entry load of 2.25% for investments below 5 crores.
• SBI Magnum Blue Chip Fund: Open-ended Equity Scheme along with dividend and growth option. The minimum required investment is Rs. 5000 and has an entry load of 2.25% for investments below 5 crores.
• SBI Magnum Children's Benefit Plan: Open-ended Income Scheme with a face value of Rs.10 and the minimum investment required is Rs. 1500. The entry load is 1.5%.
• SBI Magnum COMMA Fund: Open-ended Equity Scheme having a dividend and growth option. The minimum investment needed is Rs. 5000 and the entry load of 2.25% for investments below 5 crores is applicable.
• SBI Magnum Contra Fund: Open-ended Equity Scheme having a dividend and growth option. The minimum investment needed is Rs. 2000 and the entry load of 2.25% for investments below 5 crores is applicable.
• SBI Magnum Emerging Businesses Fund: Open-ended Equity Scheme having a dividend and growth option. The minimum investment needed is Rs. 2000 and the entry load of 2.25% for investments below 5 crores is applicable.
• SBI Magnum Equity Fund: Open-ended Diversified Equity Fundhaving a dividend and growth option. The minimum investment needed is Rs. 1000 and the entry load of 2.25% for investments below 5 crores is applicable.
• SBI Magnum FMCG Fund: Open-ended Equity Schemewith a face value of Rs.10. The minimum investment needed is Rs. 1000 and the entry load of 2.25% for investments below 5 crores is applicable.
• SBI Magnum Gilt Fund Long Term Plan: Open-ended Gilt Scheme with quarterly dividend option and growth option. As far as minimum investment is concerned, it is Rs. 25000/- and in multiples of Rs. 5000/- thereafter for the Growth option. Rs. 1,00,000/- and in multiples of Rs. 5000/- thereafter for dividend option.
• SBI Magnum Gilt Fund Short Term Plan: Open-ended Gilt Scheme with monthly dividend option and growth optionwith minimum investmentRs. 25000/- and in multiples of Rs. 5000/- thereafter for the Growth option. Rs. 1,00,000/- and in multiples of Rs. 5000/- thereafter for dividend option.
• SBI Magnum Global Fund: Open-ended Equity Scheme with Growth & Dividend Option with a minimum investment of Rs.2000and the entry load of 2.25% for investments below 5 crores is applicable.
• SBI Magnum Income Fund: Open-ended Debt Scheme with a face value of Rs. 10 and minimum investment of Rs. 2000 and no entry load.
• SBI Magnum Income Plus Fund Investment Plan: Open-ended Income Scheme with dividend and growth option and a minimum investment ofRs.25000 with zero entry load.
• SBI Magnum Income Plus Fund Saving Plan: Open-ended Income Scheme with dividend and growth option. The minimum investment required is Rs.25000 with zero entry load.
• SBI Magnum Index Fund: Open-ended Index Fundwith Growth & Dividend Option with a minimum investment of Rs.5000 and the entry load of 1.25% for investments below 50lakhs is applicable.
• SBI Magnum Insta Cash Fund: Open-ended Liquid Income Fund with daily dividend plan, dividend plan & cash plan. With a minimum investment of Rs. 10000, there is no entry load.
There are various other mutual funds offered by SBI and they are:
• SBI Magnum InstaCash Fund - Liquid Floater Plan
• SBI Magnum Institutional Income Fund
• SBI Magnum IT Fund
• SBI Magnum Midcap Fund
• SBI Magnum Monthly Income Plan
• SBI Magnum Monthly Income Plan Floater
• SBI Magnum Multicap Fund
• SBI Magnum Multiplier Plus
• SBI Magnum NRI Investment Fund
• SBI Magnum NRI Investment Fund FlexiAsset Plan
• SBI Magnum Pharma Fund
• SBI Magnum Tax Gain Scheme 1993
• SBI Premier Liquid Fund
• SBI ONE India Fund (Close Ended)