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SBI MF becomes first mutual fund company to cross Rs 5 lakh crore AAUM

Sumit Arora Published On April 10th, 2021 Leave a comment

SBI Funds Management Pvt. Ltd has informed that it has become the first mutual fund house in India to cross the Rs. 5 lakh crore average assets under management (AAUM) mark. SBI MF has seen a growth of 35% during the financial year 2020-21, with its average AUM increasing from Rs 3.73 lakh crore to Rs 5.04 lakh crore.

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The company, which is a joint venture between India’s largest lender, State Bank of India, and Europe’s largest asset manager, Amundi. The fund house’s SIP book has increased to ₹1,382 crores from ₹1,180 crores over the last year recording a growth of 17%.

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SBI Funds Management Founded: 7 February 1992.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.