SBI Mutual Fund, the country’s largest fund house, has registered over 36 lakh new SIPs in FY23, registering a growth of more than 27 per cent compared to FY22.

The growth in the new SIPs is driven by the company’s sustained focus on new market penetration through a strong distribution network of independent financial advisors, national distributors, and its parent State Bank of India branches.

SBI Mutual Fund has also increased its footprint by opening new branches in several tier-II locations. The fund house received investments through SIPs from across the country.

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The Northern region accounted for 28 per cent, it was 23 per cent, and 22 per cent from east and west regions while the Southern region added up to 19 per cent of the contribution in the FY23.

Overall, SBI Mutual Fund commands a 19 per cent market share in B-30 locations and also saw a growth of 22 per cent in active SIPs last fiscal.

35 years of operation

SBI MF also became the first fund house to cross ₹7-lakh crore average AUM, completing 35 years of operations in the industry, and the highest-ever market share in the industry in the last decade.

Consistent investor awareness initiatives and the launch of some very suitable market offerings helped increase the fund house’s market share with both existing and new investors.

The fund house raised the highest mobilisation and entered the dividend yield category, having around a 25 per cent share with the SBI Dividend Yield Fund.

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