SBI MF Magnum Express Scheme

S

smrtnvstr

New Member
#1
#1
Good day all,

I have some SBI Mutual Fund under Magnum Express Scheme bought by my dad in 1991 which he forgot about.
There are several Magnum Express Certificates of 100 Magnums each with magnum value of Rs10.
Certificates have a folio number but that folio number is not recognized by SBI MF website.
Local SBI branch could not help me with this and "Contact us" link in SBI MF website isn't replying.
Kindly provide me some information on how to go about redemption of these funds.

Best Regards,
Smrtnvstr
 
A

abdriver2000

Member
#2
#2
From what i understand, this scheme is no longer traded on the exchanges. Can you check if this is a close-ended scheme? In that case, your dad must have got his money back after a few years. The paper certificate would mention this somewhere.
 
S

smrtnvstr

New Member
#3
#3
thanks abdriver2000, finally SBI MF customer care has replied and I got the information I needed. Your guess was right it was a close-ended scheme which ended in 1997.

Brgds,
Smrtnvstr.
 
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