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SBI Magnum Equity

 

Investment Objective

 

Earlier known as Magnum Multiplier Plus '90, the scheme seeks capital appreciation through investments in diversified portfolio of equities of high growth companies. The scheme was made open-ended in January 1998.

 

Fund Managers

 

R. Srinivasan since May 2009

 

We like this fund for being a promising contender for the top spot in the large cap space in its new avatar. It rewards investors by outperforming peers and benchmark most of the times and is suitable for investors with a medium risk appetite.

 

 

Strategy
The fund aims to generate capital appreciation by investing primarily in equities of growth companies. The scheme intends to invest at least 70 per cent of its corpus in equity and equity-related instruments and the balance in debt and money market instruments.

 

CIO Navneet Munot elaborates further. “We have a magnum equity which can only invest in the top-100 companies by market cap. It cannot invest even 1 per cent of its funds in any stock which is even 101st in terms of the market cap.”

 

Plus, the fund also seeks to have minimum benchmark coverage as a certain percentage of the portfolio has to be in line of the benchmark. It is an Index-plus kind of fund but there are strong limits in terms of how much deviation it can take from the benchmark or an individual stock. On an average, the fund has 28 stocks in the portfolio. Frequently held stocks include Infosys, Reliance Industries, L&T, BHEL, Tata Motors, ITC, M&M and Bharti Airtel.

 

Performance
After the turnaround in 2006, the fund has performed consistently barring 2008. It was also able to curtail its fall better than its peers in 2011 and even in 2012 it managed to do better than the category average. Its long term returns are also impressive as it generated a five-year annualised return of 19.6 per cent as compared to the category average of 16.62 per cent.

 

Why invest?
The fund has a more streamlined approach now which has helped it maintain consistency in the past few years. It sticks to its mandate of following an identical strategy to the index, plus a few deviations.

For further information contact Prajna Capitalon 94 8300 8300 by leaving a missed call

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