SBI Mutual Fund become the India’s biggest assets management company (AMC) in terms of assets under management, has become the first mutual fund house in the country to cross Rs 10 lakh crore in Average Asset Under Management (AAUM) as on June 3. According to the data released by the Association of Mutual Funds of India (AMFI) on June 10.
In the last financial year, the AAUM of SBI Mutual Fund had grown to Rs 9.14 lakh crore from Rs 7.17 lakh crore, recording a growth of 27 percent. The AAUM growth has been at around 26 percent compounded annual growth rate (CAGR) from FY19-FY24.
As per the fund house, the AAUM growth has been achieved on the back of an increase in the SIP book (Rs 3,007 crore as on March 31, 2024) and penetration in T30 and B30 locations.
The overall assets under management of the mutual fund industry, including open-ended and closed-end funds, stood at Rs 58.91 lakh crore as of May end. The AUM for the month of April was Rs 57.26 lakh crore.
