I invested Rs15,000 in SBI Magnum Taxgain Growth. What’s your view on the fund?
Also, I plan to invest in other top funds for tax saving with a long-term view. What are the good mutual fund schemes offered by UTI, Reliance and ICICI Prudential?
Your investment in SBI Magnum Taxgain is very good and hopefully it will give you good returns. For investing more in tax-saving schemes, you may consider, Sundaram Tax Saver, HDFC Tax Saver, Reliance Tax Saver, Birla Sun Life Tax Plan, HDFC LT Adv, etc.
For long-term investment, you may consider, DSP ML -T.I.G.E.R–Reg, Reliance Diversified Power–Gr, SBI Magnum Contra, HDFC Top 200, HSBC Equity, Sundaram BNP Paribas Select Focus-Reg, Reliance Growth–Gr, Kotak Opportunity, etc.
Is there any entry or exit load for gold funds?
Since gold ETFs are traded on stock exchanges like stocks, they do not attract any entry or exit load, but may attract the brokerage and other taxes. But, if you are investing through a new fund offer, you may have to pay an entry load, depending on your mode of investment and subject to conditions laid down in the offer document. If you want to come out of the fund early, it would not attract any exit load.
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