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.
In this article
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|
|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|
|SBI FMCG Fund||SBI Consumption Opportunities Fund||Equity-Sector|
|SBI Gold Fund||SBI Gold Fund||Gold-Fund of Funds|
|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|
|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|
|SBI Savings Fund||SBI Savings Fund||Debt-Floating Rate Fund|
|SBI Short Term Debt Fund||SBI Short Term Debt Fund||Debt-Short Term|
|SBI Small & Midcap Fund||SBI Small Cap Fund||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|
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|
|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|
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.
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.
Disclaimer: the views expressed here are of the author and do not reflect those of Groww.