SBI Mutual Fund first one to cross Rs 10 lakh crore AAUM milestone

SBI Mutual Fund, the largest mutual fund house in India, has recently achieved a significant milestone by becoming the first in the country to surpass Rs 10 lakh crore of Average Asset Under Management (AAUM) as of June 3, 2024. In the last financial year, the AAUM grew from Rs 7.17 lakh crore to Rs 9.14 lakh crore, marking a 27% increase. Over the period from FY19 to FY24, the fund house's AAUM has grown at an approximate compound annual growth rate (CAGR) of 26%.

This growth in AAUM has been driven by an increase in the SIP (Systematic Investment Plan) book and greater penetration in T30 and B30 locations. As of March 31, 2024, the SIP book stood at Rs 3,007 crore. The fund house continues to attract significant interest from investors and distribution partners in both its existing and new thematic fund offerings. For instance, the SBI Energy Opportunities Fund received Rs 6,800 crore from 1.7 lakh new investors, while the SBI Automotive Opportunities Fund garnered Rs 5,710 crore from over 1.11 lakh new investors.