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SBI MF recently became the first fund house in India to cross the Rs. 10 lakh crore mark of average assets under management (AAUM). The fund house has witnessed 26% CAGR in its AAUM between FY19 and FY24.
The fund house attributes this achievement to consistent inflows through its SIP book, which is currently over Rs. 3000 crore per month. A rough calculation shows that the fund house accounts for 15% of the total gross SIP inflows of the industry.
It also expressed enthusiasm at the positive response to its two latest thematic fund NFOs: SBI Energy Opportunities Fund that collected Rs. 6800 crore with 1.7 lakh new investors and SBI Automotive Opportunities Fund that collected Rs.5710 crore with over 1.11 lakh new investors.
In a press release, Shamsher Singh, MD and CEO, said, “We are part of a strong lineage of State Bank of India and AMUNDI which places on us a greater responsibility to ensure that we offer solutions that are in our investor’s interests. This achievement is indeed a testament to the trust of our investors, distribution partners and all other stakeholders.”
