Sohini Andani, fund manager at SBI Funds Management Ltd, India’s largest Mutual Fund (MF) house with assets under management (AUM) worth Rs 8.99 trillion, is set to step down.
Good vintage
Andani has been the fund manager of SBI Bluechip Fund (SBF) since September 2010 and SBI Magnum Midcap Fund (SMF) since July 2010. At an AUM of Rs 43,355 crore, SBF is India’s second largest actively managed large-cap fund. And, at Rs 16,459 crore, SMF is India’s fifth largest actively managed mid-cap fund. This also makes Andani one of the women fund managers who have been managing one of the largest amount of assets.
Star performer
Andani had joined the fund house in October 2007 as the head of research. She was appointed as a fund manager in May 2010. Andani comes with a good track record. SBF gave a return of 15.5 percent and 15.4 percent over the past 10-year and five-year period. SMF gave a return of 22.2 percent over the past three years, as against 21.4 percent by the category average.
SMF has also been a part of MC30; Moneycontrol’s curated basket of 30 investment-worthy MF schemes.
Andani looks for companies that have a long runway of growth, good management track record, less capital-heavy companies and higher promoter ownership.
In an earlier interview with Moneycontrol, she had said that she avoids companies that often raise funds from the capital market for growth. She follows a blend of growth and value style of stock-picking.
SBF’s top three sectors are banks (18.8 percent), automobiles (9.8 percent) and fast-moving consumer goods (6.6 percent), as per ACE MF. SMF’s top three sectors are finance (12.3 percent), auto components (10.5 percent), industrial products (6.4 per cent), textiles and apparels (5.9 percent) and electrical equipment (5.3 percent).
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