SBI MF Becomes First Fund House To Cross Rs.10 Lakh Crore In Assets

SBI Mutual Fund is an Indian asset management company introduced by the State Bank of India (SBI) and incorporated in 1987 with its corporate head office located in Mumbai, India. The fund house currently oversees 116 mutual fund schemes, comprising 44 equity schemes, six hybrid schemes, 57 debt schemes, two commodity-based schemes, and seven other schemes, which include index funds and ETFs.

SBI MF crosses the mark of Rs.10 Lakh crore in AAUM

SBI Mutual Fund, the largest mutual fund house in India, has reached a significant milestone by becoming the first in the country to surpass Rs 10 lakh crore in Average Asset Under Management (AAUM) as of June 3, 2024. In the previous financial year, the AAUM grew from Rs 7.17 lakh crore to Rs 9.14 lakh crore, marking a 27.48% increase. Over the period from FY19 to FY24, the AAUM has demonstrated an impressive compound annual growth rate (CAGR) of more than 25%.

This growth is attributed to the expansion of the SIP book and increased penetration in T30 and B30 locations. As of March 31, 2024, the SIP book stood at Rs 3,007 crores

CEO’s Reflection on this Journey

Shamsher Singh, The Managing Director and CEO, has shared, “In the 36-year journey of SBI Mutual Fund, we’ve achieved numerous milestones, evolving alongside the dynamic industry. Our association with the State Bank of India and AMUNDI imposes a significant responsibility to prioritize investor interests. This milestone underscores the trust of investors, distribution partners, and stakeholders.”

Top Rated SBI Funds

Conclusion: SBI Mutual Fund’s milestone achievement of surpassing Rs 10 lakh crore in Average Assets Under Management (AAUM) marks a significant moment in its 36-year journey. the fund has demonstrated its commitment to prioritizing investor interests. This accomplishment reflects the trust placed in SBI Mutual Fund by its investors, distribution partners, and stakeholders, cementing its position as a leader in the mutual fund industry.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.