According to SBI Mutual Fund, the changes do not alter the investment objectives, strategies, risk profiles or portfolio management of the affected schemes. All other provisions of the Scheme Information Document (SID), Key Information Memorandum (KIM) and Statement of Additional Information (SAI) will continue unchanged.
As part of the exercise, the fund house has removed the word “Magnum” from the names of multiple debt and children-focused schemes.
For instance, SBI Magnum Medium Duration Fund has been renamed SBI Medium Duration Fund, while SBI Magnum Ultra Short Duration Fund will now be known as SBI Ultra Short Duration Fund.
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Similarly, SBI Magnum Constant Maturity Fund has been renamed SBI Constant Maturity 10-Year Gilt Fund, and SBI Magnum Income Fund has become SBI Medium to Long Duration Fund. The SBI Magnum Gilt Fund and SBI Magnum Low Duration Fund have also been renamed SBI Gilt Fund and SBI Low Duration Fund, respectively.
In the children’s fund category, SBI Magnum Children’s Benefit Fund – Savings Plan and Investment Plan have been renamed SBI Children’s Fund – Savings Plan and SBI Children’s Fund – Investment Plan.
The fund house said the renaming is aimed at bringing greater clarity and consistency to scheme nomenclature, helping investors better understand the nature of the products they hold. Existing investors are not required to take any action following the change.
