SBI Magnum Children’s Benefit Fund – Investment Plan is a debt-oriented saving plan.
The SBI Magnum Children’s Benefit Fund – Investment Plan will be invested in equity or equity-related instruments, that also includes Exchange-Traded Funds (ETFs), with a minimum of 65% and up to 100%; debt, including debt ETFs and money market instruments, up to a maximum of 35%; up to 10% in real estate investment trusts (REITs) and infrastructure investment trust (InvITs); and up to 20% in gold ETFs.
According to the fund houses, the SBI Mutual Fund’s new investment plan will be ideal for a child aged 1-14 years. The plan also has a five years lock-in period or till the child’s age 18, whichever is earlier.
The new fund offering opens on today 8th September and will close on 22nd September.