SBI Mutual Fund Assets: SBI Mutual Fund has set a new record. Its asset under management (SBI AUM) has reached Rs 10 trillion, making it the first fund house in the country to achieve this figure. The mutual fund giant has handled the equity boom well after the COVID-19 epidemic. The fund house has also benefited from the growing awareness about mutual fund investment.
Distributors Got Support With SBI Network
This SBI Mutual Fund AUM increase has come due to the continuous rise in the equity market and the mutual fund investment base. The increase in mutual fund AUM depends on increased assets kept in various schemes and fresh inflow.
Deputy MD and Joint CEO of SBI Mutual Fund DP Singh said the environment is in our favour. We have been bringing products occasionally, reaching different corners of the country in the last few years. This has strengthened its SIP book. He said that, along with the cooperation of other distributors, we also benefit from SBI’s network.
EPFO Has Also Made A Big Investment
As of April 2024, SBI contributed Rs 2 trillion to the AUM of SBI Mutual Fund. More than Rs 5 trillion of AUM was in direct plans, and about Rs 2.2 trillion was linked to other distributors. Institutional investors had about Rs 5 trillion of total AUM. Much of this was from the Employees Provident Fund Organization (EPFO). EPFO has invested in passive schemes of SBI Mutual Fund and other fund houses.
Banks Support the Country’s 5 Big Fund Houses
Banks also support the country’s top five fund houses: ICICI Prudential MF, HDFC MF, Nippon India MF, and Kotak MF. The average AUM of SBI Mutual Fund was Rs 3.7 trillion until the quarter ended March 2020. After this, its AUM kept increasing. During this period, the AUM of the mutual fund industry increased 2.6 times to Rs 57 trillion.
