SBI Magnum Tax Gain is a very good scheme from SBI Mutual Funds that is a close ended ELSS scheme
Both Open & Close ended Mutual Funds are not listed on a stock exchange. Only Exchange Traded Funds and stocks are listed in a stock exchange
An open ended mutual fund is one where the investor can redeem his investment any time he feels appropriate whereas a close ended mutual fund is one where the investor has to wait until the lock in period is over to redeem his investment. Open ended funds are more liquid can close ended funds because of this.
Close ended funds are mutual funds that have a lock-in period, i.e., you cannot redeem or sell your units before the date of maturity. Let us say you invest in a 5 year close ended fund today, you can sell it only in 2014.
Close ended funds are mutual funds that have a lock-in period, i.e., you cannot redeem or sell your units before the date of maturity. Let us say you invest in a 5 year close ended fund today, you can sell it only in 2014.
Both have their own merits and demerits. Open ended funds are good in a way that, if you know that a mutual fund is performing exceptionally well, you can go ahead and invest in them whereas in case of close ended funds you cannot do that. At the same time, close ended funds are good in a way that, you don't have to worry about fresh investments or frequent withdrawals from the investors. The fund manager can think of a long term plan to make a profit with his investments and stick to them, whereas in case of an open ended fund the fund manager has to take into account fresh investments and redemptions during his investment strategy and that may affect the returns of the funds.
Corpus of a mutual fund is defined as the sum of 1. Cash in hand + 2. Market value of its shares * no. of shares held + 3. Dividends if any
If it is an open ended mutual fund - Yes, you can draw the funds
Please reframe your question and be clear on what you want to know. I suggest you visit the ICICI Mutual Fund website for more details on ICICI funds. Srikanth Matrubai
It depends on the type of fund. Open ended funds are liquid because the investor can always surrender his investments at any time and redeem them as cash in 1-3 days. Close ended funds are not liquid because the investor cannot redeem his investment until the investment period is over.
the supply of shares in the funds is not fixed but can increase or decrease daily with purchases and redemptions of shares.
There are thousands of mutual funds on the market. If you have specific ones in mind I would suggest looking them up individually. You can also visit your banks website that offer comparisons for different mutual funds and theyre competitors rates.
Yes. open ended mutual funds can be considered liquid. You can convert it to cash within a couple of days.