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SBI Mutual Fund has emerged as the first fund house to cross ₹10 lakh crore of average Asset Under Management as on June 3.
In the last financial year, the average AUM had grown by 27 per cent to ₹9.14-lakh crore from ₹7.17-lakh crore. It registered a 26 per cent compounded annual growth rate between FY19 and FY24.
The growth comes on the back of an increase in the SIP book of ₹3,007 crore as of March-end and penetration in T30 and B30 locations. The two thematic new fund offers of the SBI Energy Opportunities Fund and Automotive Opportunities collected ₹6,800 crore from 1.7 lakh investors and ₹5,710 crore from 1.11 lakh investors.
Shamsher Singh, Managing Director, SBI MF, said that in a journey spanning over 36 years, the fund house has evolved over time with a dynamic industry.
Being part of a strong lineage of the State Bank of India, AMUNDI places greater responsibility on ensuring that solutions offered are in investor’s interests, he added.
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