SBI Mutual Fund Company is changing the names and category of some of its funds, in order to adhere to the guidelines that have been dictated by the Security Exchange Board of India. Mutual funds of many asset management companies are being changed after a recent circular by the regulator SEBI.

This move by SEBI is to make investing simple for investors that they can understand the difference between two funds of the same AMC and can accordingly decide where they would like to invest.

SBI Mutual Fund Rename & Category Changes

This table contains the names of the SBI Mutual Funds whose names have changed:

 Old Fund Names   New Fund Names  Old Category New Category
SBI Contra Fund SBI Contra Fund Equity-Multi Cap Equity-Contra
SBI Corporate Bond Fund SBI Credit Risk Fund Debt-Credit Opportunities
Debt-Credit Risk
SBI Dynamic Asset Allocation Fund SBI Dynamic Asset Allocation Fund Hybrid-Asset Allocation
Hybrid-Dynamic Asset Allocation
SBI Emerging Businesses Fund SBI Focused Equity Fund Equity-Mid Cap
SBI Equity Savings Fund SBI Equity Savings Fund Equity-Arbitrage
Hybrid-Equity Savings
SBI FMCG Fund SBI Consumption Opportunities Fund Equity-Sector
SBI Gold Fund SBI Gold Fund Gold-Fund of Funds
Others-FoF Domestic
SBI IT Fund SBI Technology Opportunities Fund Equity-Sector
SBI Magnum Balanced Fund SBI Equity Hybrid Fund Hybrid-Equity Oriented
SBI Magnum Children’s Benefit Plan SBI Magnum Children’s Benefit Fund Hybrid-Debt Oriented
Solution Oriented-Children’s
SBI Magnum Equity Fund SBI Magnum Equity ESG Fund Equity-Large Cap
SBI Magnum Gilt Fund Short Term SBI Magnum Constant Maturity Fund Debt-Gilt
Debt-Gilt fund with 10 year constant duration
SBI Magnum Global Fund 94 SBI Magnum Global Fund Equity-Mid Cap
SBI Magnum Income Fund SBI Magnum Income Fund Debt-Income
Debt-Medium to Long Duration
SBI Magnum Insta Cash Fund SBI Magnum Ultra Short Duration Fund Debt-Liquid
Debt-Ultra Short Duration
SBI Magnum Insta Cash Fund – Liquid Floater Plan SBI Overnight Fund Debt-Liquid
SBI Magnum Monthly Income Plan SBI Debt Hybrid Fund Debt-MIP
SBI Magnum Monthly Income Plan – Floater SBI Multi Asset Allocation Fund Debt-MIP
Hybrid-Multi Asset Allocation
SBI Magnum Multiplier Fund SBI Large and Midcap Fund Equity-Multi Cap
Equity-Large & Mid Cap
SBI Magnum Tax Gain Scheme 93 SBI Magnum Tax Gain Scheme Equity-Tax Planning Equity-ELSS
SBI Nifty Index Fund SBI Nifty Index Fund Equity-Index Others-Index
SBI Pharma Fund SBI Healthcare Opportunities Fund Equity-Sector
SBI Premier Liquid Fund SBI Liquid Fund Liquid-Liquid Debt-Liquid
SBI PSU Fund SBI PSU Fund Equity-Diversified
SBI Regular Savings Fund SBI Magnum Medium Duration Fund Debt-Income
Debt-Medium Duration
SBI Savings Fund SBI Savings Fund Debt-Floating Rate Fund
Debt-Money Market
SBI Short Term Debt Fund SBI Short Term Debt Fund Debt-Short Term
Debt-Short Duration
SBI Small & Midcap Fund SBI Small Cap Fund Equity-Small Cap
Equity-Small Cap
SBI Treasury Advantage Fund SBI Banking & PSU Fund Debt-Ultra Short Term
Debt-Banking & PSU
SBI Ultra Short Term Debt Fund SBI Magnum Low Duration Fund Debt-Ultra Short Term
Debt-Low Duration

SBI Mutual Funds That Did Not See Any Change

 Old Fund Name  New Fund Name  Old Category  New Category
SBI Arbitrage Opportunities Fund SBI Arbitrage Opportunities Fund Hybrid-Arbitrage
SBI Banking & Financial Services Fund SBI Banking & Financial Services Fund Equity-Sector
SBI Bluechip Fund SBI Bluechip Fund Equity-Large Cap
Equity-Large Cap
SBI Dynamic Bond Fund SBI Dynamic Bond Fund Debt-Dynamic
SBI Infrastructure Fund SBI Infrastructure Fund Equity-Sector
SBI Magnum COMMA Fund SBI Magnum COMMA Fund Equity-Sector
SBI Magnum Midcap Fund SBI Magnum Midcap Fund Equity-Mid Cap
Equity-Mid Cap

SBI Mutual Fund Changes

Mutual Fund Name & Category Change

If there is a change in category of the mutual fund, an investor also has to keep track of the change and has to also change his strategy of investment in these mutual funds. These changes are mainly in equity mutual funds. Debt funds category names have changed too but there is not much difference in their investment style.

If an investor is in a dilemma as to what he should do, he should contact his mutual fund advisor for his advice on this issue.

Know More: New Mutual Fund Rules by SEBI: Categorization and Rationalization Of Mutual Fund Schemes

Merger of Mutual Funds

If mutual funds are being merged, investors should not be concerned as the Mutual Fund house will take care of the merger. Since in the mergers, there is no real change in the category of the mutual funds that an investor has invested in, so investors need not make any changes to their investment strategy and should just be updated about the merger.

Mutual Fund Name Change

If only the name of the mutual fund has changed, then there is no need for an investor to be concerned or do anything. Investors can keep their money invested in the same fund or can continue their investments via SIP in the same mutual fund.

SBI Mutual Fund House

SBI Mutual Fund is a bank-sponsored fund house with its corporate headquarters in Mumbai, India. It is a joint venture between the State Bank of India, an Indian multinational, Public Sector banking and financial services company and Amundi, a European asset management company.

The mutual fund industry in India originally began in 1963 with the Unit Trust of India (UTI) as a Government of India and the Reserve Bank of India initiative. Launched in 1987, SBI Mutual Fund became the first non-UTI mutual fund in India.

Reasons for change in SBI Mutual Fund Renaming

There are many mutual fund schemes offered by different Mutual Fund Houses. Many of these are in effect replicas of each other. Further, they also have names that might confuse and intimidate a new investor.

Keeping this in mind, the regulator SEBI has decided to recategorize mutual fund schemes. It has also made compulsory that each Mutual Fund House can only have one mutual fund under each category.

Thus, all Mutual Fund Houses are renaming, recategorizing, and merging mutual funds as per the directives were given by the Securities Exchange Board of India.

To see the best mutual funds to invest from every category, see: The 30 Best Mutual Funds to Invest in 2018 – Groww 30.

Happy investing!

Disclaimer: the views expressed here are of the author and do not reflect those of Groww.