SBI Mutual Fund


SBI Mutual Fund is an asset management company sponsored by State Bank of India. It was founded in 1987 with its corporate headquarters located in Mumbai, India. SBI Funds Management Private Limited has been appointed as the Asset Management Company of the SBI Mutual Fund. SBIFMPL is a joint venture between the State Bank of India, an Indian public sector bank, and Amundi, a European asset management company.

History

The mutual fund industry in India originally began in 1963 with the Unit Trust of India as a Government of India and the Reserve Bank of India initiative. Launched in 1987, SBI Mutual Fund became the first non-UTI mutual fund in India. In July 2004, State Bank of India decided to divest 37 per cent of its holding in its mutual fund arm, SBI Funds Management Pvt Ltd, to Societe Generale Asset Management, for an amount in excess of $35 million. Post-divestment, State Bank of India's stake in the mutual fund arm came down to 67%. In May 2011, Amundi picked up 37% stake in SBI Funds Management, that was held by Societe Generale Asset Management, as part of a global move to merge its asset management business with Crédit Agricole. SBI Funds Management Private Limited has been appointed as the Asset Management Company of the SBI Mutual Fund. SBIFMPL is a joint venture between the State Bank of India, an Indian public sector bank, and Amundi, a European asset management company.
As of September, 2019, the fund house claims to serve 5,809,315 unique investors through approximately 212 branches PAN India.

Key milestones

Equity

The company offers a wide array of equity funds ranging from diversified to thematic and sector-based offerings.

Debt

The company has a robust product range matching all maturities for cash management. The focus of investment philosophy is primarily on the product's liquidity as well as on the quality of the securities held in the portfolio.

Hybrid

Hybrid Schemes invest in a mixture of multiple asset classes like debt, equity, and gold in different proportions based on the investment objective. The company has a suite of products across the risk-spectrum including a multi-asset offering that has gold in the portfolio into the traditional mix of equity and debt.

Other Large Mutual Fund Houses

Some of the major competitors for SBI Mutual Fund in the mutual fund sector are Birla Sun Life Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Reliance Mutual Fund, UTI Mutual Fund & Axis Mutual Fund.