India’s largest bank by assets, State Bank of India plans to list its asset management arm SBI Mutual Fund in the next two years.
Ashwani Bhatia, Managing Director and Chief Executive Officer of SBINSE 0.78 % Mutual Fund said the matter was under discussion. “Very soon. This is being talked and discussed. And, you should hear from us. Within the next two years for sure,” Bhatia told ETMarkets.com.
SBI Mutual Fund is a joint venture between State Bank of India and Amundi of France. Amundi holds 37 per cent stake in the venture. It is the largest equity investor among all asset management company with total exposure of about Rs 1.5 lakh crore. Overall, its assets under management stood Rs 3,17,627 crore at the end of September, making it the third largest fund housing in the country.
