SBI has become the first mutual fund company with an asset of Rs 5 lakh crore. Let us know what it means for an investor…
SBI Mutual Fund has now set the biggest record ever. According to the data released on Thursday, SBI Mutual Fund’s asset base has crossed Rs 5 lakh crore in the January-March quarter. It is the only company in the country to do so. Let us know that apart from SBI, this list includes HDFC Mutual Funds, ICICI Mutual Funds, Aditya Birla Sun Life, Kotak Mahindra Mutual Funds and Nippon Life.
How did SBI do this amazing
SBI has crossed Rs 5 lakh crore in the January-March quarter. It is the first mutual fund company in the country to achieve this feat. SBI MF said that its average asset under management (AAUM) has increased from Rs 4.56 lakh crore to Rs 5.04 lakh crore in 2020-21.
SBI MF had an asset base of Rs 4.56 lakh crore. SIP SIP (Systematic Investment Plan) has been a strong cause for growth in average asset under management.
Experts say that there has been a big boom from small cities to mutual fund schemes. The fund house’s SIP book rose 17 per cent to Rs 1,382 crore as against Rs 1,180 crore last year.
What it means for investors
Experts say that this directly means that investors are relying on SBI. In the coming time, more investors can turn to SBI. Common investors will not have any effect on the money in the schemes.
| Rank | Fund house | AUM (Lakh Crore Rupees) in March Quarter | AUM (Lakh Crore Rupees) in December quarter |
| 1 | SBI | 5.04 Lakh Crore | 4.56 lakh crore rupees |
| 2 | HDFC Mutual Funds | 4.15 lakh crores | 3.89 lakh crores |
| 3 | ICICI Mutual Funds | 4.05 lakh crores | 3.80 lakh crores |
| 4 | Aditya Birla Mutual Funds | 2.7 lakh crore rupees | 2.55 lakh crores |
| 5 | Kotak Mahindra Bank | 2.33 lakh crores | 2.16 lakh crores |
Apart from SBI Mutual Fund, the asset base of some other top asset management companies has also seen an increase during the March quarter. This is more than its last three months.
HDFC Mutual Fund’s asset base rose to Rs 4.15 lakh crore during this period. It ranks second in this case. Its asset base stood at Rs 3.89 lakh crore in the December quarter.
ICICI Mutual Fund is at the third position in this case. Its average AUM for the quarter ended March 2021 was Rs 4.05 lakh crore. It was Rs 3.8 lakh crore in the last quarter.
