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Mutual Fund Review: Magnum NRI Investment Fund - FlexiAsset Plan

Objective
The investment objective of the scheme will be to provide attractive returns to the Magnum holders either through periodic dividends or through capital appreciation through an actively managed portfolio of debt, equity and money market instruments. Income may be generated through the receipt of coupon payments, the amortization of the discount on the debt instruments, receipt of dividends or purchase and sale of securities in the underlying portfolio.

Asset Allocation

Instrument

% of Portfolio of Plan A & B

Risk Profile

Corporate Debenture and Bonds/PSU, FI, Government guaranteed Bonds including Securitized Debt and In

Up to 90% of the investments in debt instruments

Medium to High

Of which Securitized Debt

Not more than 30% of the investments in debt instr

Medium to High

Government Securities

Up to 100% of the investments in debt instruments

Low

Equity and equity related instruments

Atleast 10% and not exceeding 80% at any time

High

Derivative Instruments

Within approved limits

Low

Cash and Call and Money Market Instruments

Up to 25%

Low


Scheme Highlights
1. All Plans have Growth and Dividend Options.
2.The returns under the Growth option to be through capital appreciation only, The FlexiAsset Plan to follow an Asset Allocation Model wherein depending on market conditions/based on certain triggers, the Fund Manager can take a view on the percentage of investments that can be allocated to equity.

3. This Plan would have a minimum of 10% investment in equity related instruments which can be increased up to 80% depending on market fundamentals.
4. The investment universe for equity stocks will be limited to such equity stocks that form a part of BSE-100. 5. The scheme will declare NAV, Sale and Repurchase prices on all business days.
6. All Plans will have separate asset classes and will declare separate NAVs for different options.
7. Dividends distributed under the scheme will be subject to a dividend distribution tax of 12.5% and will be tax free in the hands of the investor. Investments in Mutual Funds by NRIs are fully repatriable in case the funds are remitted through NRE/FCNR accounts. Short-term/Long-term Capital Gains would be subject to a withholding tax of 30%/20%.

Minimum Application
Rs. 50,000 and multiples of Rs. 1,000. No maximum limit.

Entry Load
Investments below Rs. 5 crores - 2.25% Investments of Rs.5 crores and above - NIL

Exit Load
Investments below Rs. 5 crore, exit within 6 months from the date of allotment – 1%, Investments below Rs. 5 crore, exit between 6 months & 12 months from the date of allotment – 0.5%, Investments below Rs. 5 crore, exit after 12 months from the date of allotment – Nil, Investments of Rs. 5 crore and above– Nil

SIP
Minimum amount Rs.500/month - 12 months Rs.1000/month - 6months, Rs.1500/quarter - 12 months Minimum amount

SWP
A minimum of Rs. 1000 can be withdrawn every month or quarter by indicating in the application form or by issuing advance instructions to the Registrars at any time.
 

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