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

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%.

Important takeaways for all competitive exams:

  • SBI Funds Management Founded: 7 February 1992.

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