Choice of SBI MF's (5 Lakhs), your recommendations

[harisubram]

Hello,

Would an investment of 5L (spread out between the below funds),
be a good choice ?

Magnum COMMA, Magnum Contra, Magnum Global ,
Magnum MultiCap and Magnum Taxgain.

Since NRI's cannot invest via ICICDirect & HDFC, and I am outside
India, I've opted for SBI MF.

Do you have any other recommendations (Online Investing for NRI's) !


Thanks for replying


Hari

 

[Novice Trader]

Since NRI's cannot invest via ICICDirect & HDFC, and I am outside
India, I've opted for SBI MF.

NRIs can invest via ICICIDirect.

 

[kalyanas]

There facilities in HDFC bank online investment in specified mutual funds, also online investment in ICICI-Pru funds is allowed.
Regarding online trading, non-US based NRI can use HDFCdirect.
Hope the above information helpful.

 

[harisubram]

Hello,

Thanks for your replies.
What are your recommendations as for Growth Mutual Funds.

Would an investment of 5 Lakhs (spread out between Magnum COMMA,
Magnum Contra, Magnum Global , Magnum MultiCap & Magnum Taxgain),
be a good choice ?

"HDFC Securities" & "[email protected]" did clearly reply last month
that NRI's from US cannot purchase MF online (since they do not have
the compliance with the authorities)

Hence I decided to go with SBI (where I can fax them the forms).


Thanks


Hari

 

[MFadvisor]

1) Magnum Taxgain 93 is the best Mutual fund in ELSS schemes.
It is promoted by SBI and it has given more given regular dividends of more then 100% for last year.

Its absolute returns for past five years has been 795%.
check out the comparision with all the other scheme.
http://news.moneycontrol.com/mf/gainerloser/snapshot.php?op1=ab&option=eqt

2) Fidelity and HDFC are other good fund houses.

3) feel free to contact me on email [email protected] or call on
2386 3633

 

[kalyanas]

Mr.Hari,

Here is link, which gives information and recommendation by "The Busness Line" on SBI Magnum Contra.

http://www.thehindubusinessline.com/iw/2007/05/06/stories/2007050600801000.htm