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Magnum InstaCash Fund: Introduction of Daily and Weekly STP


Effective August 13, 2010, SBI Mutual Fund will introduce the Daily and Weekly STP facility under Magnum InstaCash Fund.

Under STP facility, investors can transfer a fixed amount from Magnum InstaCash (Cash and Dividend Plan) and Magnum Insta Cash - Liquid Floater Plan (source scheme) to Magnum Balanced Fund and all open ended equity schemes (target scheme) except SBI Arbitrage Opportunities Fund on daily and weekly basis. The minimum amount under Magnum Taxgain for both daily and weekly STP will be Rs.500 and for other funds it will be Rs.1000 under daily STP and Rs.2000 under weekly STP. Their will be a minimum of 12 number of installments for daily STP and 6 for weekly STP.