SBI Mutual Fund (MF) is, India’s largest fund house, has added three million new systematic investment plan (SIP) accounts so far this financial year, recording nearly 40 per cent year-on-year growth. The fund house said it had received an average of Rs 1,800 crore every month through SIPs in FY22, with an average ticket size of Rs 2,500 per client.
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SBI MF manages assets over Rs six trillion, the first fund house to hit the milestone. It has a market share of 16.43 per cent, which is the highest for any fund house during the past ten years. Its market share is even higher in beyond-30 centres (B30).
This fiscal, SBI MF’s new fund offer (NFO) for SBI Balanced Advantage Fund garnered a record Rs 14,691 crore in August. Earlier this month, the NFO of SBI Multicap Fund mobilised Rs 8,095 crore, the highest mobilisation by a scheme in the multi-cap category.
