Planning your child’s financial future may rank high on your family’s agenda. Investing in various avenues to secure the education and marriage costs of your child would be a priority for many of you. In this light, as an addition to the list of children-specific mutual funds comes the SBI Magnum Children’s Benefit Fund (Investment Plan). The new fund offer opens on September 8 and closes on September 22. Is there anything unique about the scheme and is it worth investing in?The schemeSBI Magnum Children’s Benefit Fund (Investment Plan) would look to invest at least 65 per cent in domestic stocks. The remaining portion will get allocated to international equities (maximum up to 35 per cent) and gold exchange traded funds (up to 20 per cent).Your funds are locked-in for five years, or till the child turns 18, whichever is earlier. You can invest only in the minor’s name from the minor’s bank account or from a joint account with the minor.Close The fund already has an existing Savings Plan, which invests at least 75 percent in fixed income securities. That plan was launched in 2002. related news Market fall and rise: 5 factors that separated smart investors from laggards… Read full this story
- When is the right time to sell your mutual fund investments?
- Troubled YES Bank poised to outline crucial fund-raising plans
- 20,000 Musicians To Receive “Painful” Pension Cuts To Keep Benefit Fund Solvent
- YES Bank board okays nearly $2 billion fund-raising plan
- Corporation that holds migrant children backs out of plans to hold holiday party at Trump golf club
- Will mutual fund portfolio help me to build a sizeable corpus?
- Top 10 wealth creator mutual fund schemes of 2017
- Axis Mutual Fund aims to garner Rs 800-1000 crore via retirement savings fund NFO
- This week in Mutual Funds: Domestic MF's AUM skewed to top 20 fund houses?
- SBI's credit card business plans IPO to raise nearly $1.25 billion
SBI Magnum Children’s Benefit Fund (Investment Plan) NFO: Should you invest? have 323 words, post on www.moneycontrol.com at September 9, 2020. This is cached page on Business Breaking News. If you want remove this page, please contact us.