SBI Mutual Fund on Thursday said its equity fund, SBI Contra Fund has recorded 100 per cent growth in its asset base to ₹4,688 crore in last one year.
"The scheme AUM (Assets Under Management) stands at ₹4,687.76 crore as on June 30, 2022 compared to ₹2,397.73 crore as on June 30, 2021," SBI Mutual Fund (MF) said in a statement.
SBI Contra Fund has significantly outperformed its first-tier benchmark, S&P BSE 500 TRI, in the short, medium, and long terms.
The fund has delivered the highest returns in the category in the 1-year (11.55 per cent), 3-year (21.34 per cent), 5-year (12.90 per cent) time periods, and since inception in 2005 (18.41 per cent), the statement noted.
The scheme has witnessed strong interest from all segments of investors, retail and High Networth Individuals (HNIs), and is suitable for investors who have advanced knowledge of macro trends and prefer to take selective bets for higher returns.
The scheme follows a combination of top-down and bottom-up approach to build the portfolio. From a top-down perspective, it looks for themes or sectors the market has completely written off, and from a bottom-up perspective, it looks for good quality companies going through a rough phase.