SBI MF becomes first fund house to cross Rs 10 lakh crore in assets

SBI Mutual Fund offers 116 schemes across equity, debt, hybrid and commodity categories.

SBI Mutual Fund, India’s biggest assets management company (AMC) in terms of assets under management, has become the first mutual fund house in the country to cross Rs 10 lakh crore in Average Asset Under Management (AAUM) as on June 3.

According to the data released by the Association of Mutual Funds of India (AMFI) -- the industry trade body for mutual funds -- on June 10, the overall assets under management of the mutual fund industry, including open-ended and closed-end funds, stood at Rs 58.91 lakh crore as of May end. The AUM for the month of April was Rs 57.26 lakh crore.

In the last financial year, the AAUM of SBI Mutual Fund had grown to Rs 9.14 lakh crore from Rs 7.17 lakh crore, recording a growth of 27 percent. The AAUM growth has been at around 26 percent compounded annual growth rate (CAGR) from FY19-FY24.

As per the fund house, the AAUM growth has been achieved on the back of an increase in the SIP book (Rs 3,007 crore as on March 31, 2024) and penetration in T30 and B30 locations.

As per the Securities and Exchange Board of India (SEBI) classification, T-30 refers to the top 30 geographical locations in India, and B-30 refers to the locations beyond the top 30.

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The fund house continues to see keen interest from investors and distribution partners in its existing and new fund offers of its thematic offerings – SBI Energy Opportunities Fund (Rs 6,800 crore with 1.7 lakh new investors) and SBI Automotive Opportunities Fund (Rs 5,710 crore with over 1.11 lakh new investors).

Shamsher Singh, Managing Director and Chief Executive Officer, said, "In a journey spanning over 36 years, there have been many milestones for SBI Mutual Fund as we have evolved over time with a dynamic industry. 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.”

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SBI Mutual Fund offers 116 schemes across equity, debt, hybrid and commodity categories as of June end. The fund house has 44 equity schemes, 57 debt, six hybrid and two commodity schemes on offer.

In terms of assets mix, the percentage of equity assets in SBI MF's total AUM stands at around 61 percent, followed by 22.5 percent in debt and 15.15 percent for hybrid schemes.