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Some Advice on Mutual funds? Is SBI Magnum equity scheme good? |
Travel Info Is it better to invest in open-ended or closed-ended schemes? I am looking for good returns within a year or two. Travel Tips I always prefer open-ended funds. This way I can switch my investments whenever the fund is performing below my expectations or the returns are below the category average. Closed-ended schemes would be better if you don't require liquidity on your investments. But still, most of the closed-ended funds are performing at par with the open-ended ones, so why should you lock your money in them? As for SBI's magnum equity, it has provided 86.72% returns in past one year and has become the 6th most profitable MF scheme from SBI. I don't think any investor could ask for more when the category average returns have been around 75% over the same period. The scheme is one of the oldest non-UTI MF scheme in India and has a decent track record of around 16 years although the net assets are only around 190 crores. If you really want to invest in an old scheme from SBI, I would suggest Magnum Contra (Growth). And if you are open to investing your money in other AMC's too then I can tell you where I am parking mine. Source(s): Personal experience Other Travel Tips Never invest in anything that is a 'scheme'. Invest only in rational financial instruments/mutual funds. And... never invest in the stock market looking for 'good returns' within a a year or two. Stock investing should only be done with money invested for the long-term (at least 5-7 years!). What if you had invested in the stock market in 2000? Two years later your 'return' would have been a 50% LOSS!!! Good luck. I dont know about that particullar fund but I tend to favor closed end funds if they can be purchased at a discount to to absolute NAV. This contrarian aproach has always served me well. |
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