SBI Mutual Fund, the leading mutual fund house in the country, has achieved yet another milestone by becoming the first mutual fund house in India to cross Rs. 10 lakh crore of Average Asset Under Management (AAUM) as on June 3, 2024.
In the last FY, the AAUM had grown to Rs 9.14 lakh crore from Rs 7.17 lakh crore recording a healthy growth of 27 %. Its AAUM growth has been approx. 26% CAGR from FY19-FY24.
The AAUM growth has been achieved on the back of an increase in the SIP book (Rs. 3,007 crore as on March 31, 2024) and penetration in T30 and B30 locations. The fund house continues to see keen interest from investors and distribution partners in its existing and New Fund Offers of its thematic offerings – SBI Energy Opportunities Fund (Rs. 6,800 crore with 1.7 lakh new investors) and SBI Automotive Opportunities Fund (Rs. 5,710 crore with over 1.11 lakh new investors).
On the occasion, Mr. Shamsher Singh, Managing Director & Chief Executive Officer, said ‘In a journey spanning over 36 years, there have been many milestones for SBI Mutual Fund as we have evolved over time with a dynamic industry. We are part of a strong lineage of State Bank of India and AMUNDI which places on us a greater responsibility to ensure that we offer solutions that are in our investor’s interests. This achievement is indeed a testament to the trust of our investors, distribution partners and all other stakeholders.