Recently, SBI MF became the largest asset manager in the country dislodging HDFC MF from the top spot
SBI Mutual Fund
(MF) has become the first fund house to cross the ~4 trillion-mark, according to industry estimates.
“We have seen money coming in from across segments. Amid recent disruptions in the market, flows have come in as SBI MF is seen as a safe fund house. Apart from debt, we are also seeing a significant share of net equity flows coming into our schemes,” said D P Singh, chief business officer at SBI MF.
The surge in market valuations has also contributed to the jump in the asset base to the tune of ~30,000-~35,000 crore.
Industry experts say the process-driven fund management, flows from the Employee Provident Fund Organisation, and a wide distribution network have also played a role in expanding the asset base.
Recently, SBI MF had become the largest asset manager in the country, dislodging HDFC MF from the top spot, which it had held for a long period.
SBI MF is a joint venture between State Bank of India and French asset management company Amundi, where the latter holds a 37 per cent stake.