SBIFMPL, a joint venture between State Bank of India (“SBI”), India’s largest bank, and Amundi, Europe’s largest asset manager and one of the world’s leading asset management companies, has achieved yet another milestone by becoming the first fund house in India to cross Rs. 5 lakh crore of Average Asset Under Management (AAUM).
In the last one year, SBI Funds Management AUM has grown to Rs 5.04 lakh crore from Rs 3.73 lakh crore recording a healthy growth of 35 % in the last FY. The market share of the fund house has also grown from 13.82 % to 15.71 % in the last one year. The fund house has recorded an AAUM growth approx. 37% CAGR from FY15-FY21.
The AAUM growth has been achieved on the back of robust increase in the SIP book and penetration in T30 and B30 locations. The fund house SIP book has increased to Rs 1,382 crore from Rs 1,180 crore over the last one year recording a growth of 17%.