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7 SBI MF schemes declared approved securities

MUMBAI: The units under seven open-end schemes, equity, balanced and liquid, of the SBI Mutual Fund have been declared as approved securities by the State Government of Maharashtra under section 2(xii)(d) of the Bombay Public Trust Act, 1950.

The said approval means that the charitable and religious trusts and other institutions bound to invest only in government approved securities, can now invest any of the seven approved schemes of the SBI Mutual Fund. The seven schemes, the units of which have been granted the status of approved securities are Magnum InstaCash Fund, Magnum LiquiBond Income Fund, Magnum Balanced Fund, Magnum TaxGain Scheme, Magnum Multiplier Plus Scheme, Magnum Equity Fund and Magnum Sector Funds Umbrella. -- Our Bureau