SBI Mutual Fund shatters many records! First to cross Rs 10 lakh crore assets

financialexpress.com:

SBI Mutual Fund, the country’s largest fund house, has become the first mutual fund house in India to surpass Rs 10 lakh crore of Average Asset Under Management (AAUM).

SBI Mutual Fund saw its AAUM crossing Rs 9 lakh crore in the previous financial year. The AAUM rose to Rs 9.14 lakh crore from Rs 7.17 lakh crore in FY2023-24, clocking a growth of 27%. Over the last five financial years (from FY19-FY24), its AAUM growth has grown by approximately 26% CAGR.

This AAUM growth has been achieved on the back of an unprecented rise in the SIP book and penetration in top 30 or T30 and beyond these 30 or B30 locations. SBI Mutual Fund’s SIP book stood at Rs 3,007 crore as on March 31, 2024.

SBI Mutual Fund continued to generate big interests from investors and distribution partners for its existing and new fund offerings. SBI Energy Opportunities Fund received Rs 6,800 crore with 1.7 lakh new investors. SBI Automotive Opportunities Fund received Rs 5,710 crore with over 1.11 lakh new investors.

Also read: SEBI’s surprise move on mutual fund frozen accounts, nomination details – All you need to know

Currently, SBI Mutual Fund manages 116 schemes. Of these, 44 are equity schemes, 6 hybrid schemes, 57 debt schemes, 2 commodity-based schemes, and 7 other schemes (includes index funds and ETFs).

The Average Assets Under Management (AAUM) of the Indian Mutual Fund Industry for the month of May 2024 stood at Rs 58,59,951 crore. The Assets Under Management (AUM) of Indian Mutual Fund Industry as on May 31, 2024 stood at Rs 58,91,160 crore.

The industry’s AUM has grown from Rs 10.11 lakh crore as on May 31, 2014 to Rs 58.91 lakh crore as on May 31, 2024 — around six-fold increase in a span of 10 years.

The MF industry’s AUM has grown