All you wanted to know about Mutual Funds
what about 2009 dividend
why sbi hesitate to declare the dividend ontax gain mf for the financial year 2009
@Pradeep,SBI State Bank of India Mutual Fund did not declare any dividend in the financial year 2009.
SBI MF Magnum Taxgain Dividend in 2009.Nil.Magnum Taxgain ELSS did not declare any dividends in financial year ending 2009, due to relatively bad performance of the scheme. It scored pretty badly on all parameters.
I had requested to redeem my units but i got afeedback saying Divident less than 250 will be reinvested? why is this so? if i want to redeem everything why cant SBI redeem everything & closeit completely? Why is it made so diifuclt to customers?
I had asked for redemption request of my SBI Tax gain Dividend, but I have been informed by Kotak bank that SBI Magnum has a policy that if dividend is less than 250 then it will be reinvested? If i want to redeem everything & close of the MF, why does SBI make it so diificult for customers???
@VidyaSorry or the really late revert.Your bank has provided you with right information. SBI MF indeed does not allow Dividend proceeds of less than INR 250 to be credited to investor's account. This is infact clearly specified in the SBI Tax Gain Offer Document itself. My assumption is that it is done with purpose of reducing operational dificulties of crediting amount below a minimum threshold level. You can highlight the same to the AMC and SEBI.Now though, that reinvested amount would have increased above the INR 250 threshold so i believe you could go ahead and redeem the same immediately.
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