HOW SBI Magnum Global Fund PERFORMED? With a 10-year return of 14.67%, the fund has lagged behind the category (15.18%), but outperformed the benchmark index (11.39%).
Growth of Rs 10,000 vis-à-vis category and benchmark
WHERE DOES THE FUND INVEST?
Should You Buy SBI Magnum Global Fund? This fund will soon shed its mid-cap positioning and transform into a multinational company- fund, in compliance with the regulator's fund recategorisation exercise. This means it will invest at least 80% of its corpus in companies with global ownership or ones that get more than 50% of revenues from abroad, apart from stocks listed abroad.
The mid-cap bias will now give way to a multi-cap approach, covering MNCs of all sizes. The fund's portfolio is, therefore, likely to take on a very different hue in the coming months.
However, a big churn in its portfolio is not likely, as it already boasts 60% exposure to MNC stocks. As it will become a thematic fund, investors will have to approach it as such. Its past return profile is no longer reflective of its new avatar, so investors should treat this as a fresh start.
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