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 CategoryNew Category
SBI Contra FundSBI Contra FundEquity-Multi CapEquity-Contra
SBI Corporate Bond FundSBI Credit Risk FundDebt-Credit Opportunities
Debt-Credit Risk
SBI Dynamic Asset Allocation FundSBI Dynamic Asset Allocation FundHybrid-Asset Allocation
Hybrid-Dynamic Asset Allocation
SBI Emerging Businesses FundSBI Focused Equity FundEquity-Mid Cap
Equity-Focused
SBI Equity Savings FundSBI Equity Savings FundEquity-Arbitrage
Hybrid-Equity Savings
SBI FMCG FundSBI Consumption Opportunities FundEquity-Sector
Equity-Sectoral/Thematic
SBI Gold FundSBI Gold FundGold-Fund of Funds
Others-FoF Domestic
SBI IT FundSBI Technology Opportunities FundEquity-Sector
Equity-Sectoral/Thematic
SBI Magnum Balanced FundSBI Equity Hybrid FundHybrid-Equity Oriented
Hybrid-Aggressive
SBI Magnum Children’s Benefit PlanSBI Magnum Children’s Benefit FundHybrid-Debt Oriented
Solution Oriented-Children’s
SBI Magnum Equity FundSBI Magnum Equity ESG FundEquity-Large Cap
Equity-Sectoral/Thematic
SBI Magnum Gilt Fund Short TermSBI Magnum Constant Maturity FundDebt-Gilt
Debt-Gilt fund with 10 year constant duration
SBI Magnum Global Fund 94SBI Magnum Global FundEquity-Mid Cap
Equity-Sectoral/Thematic
SBI Magnum Income FundSBI Magnum Income FundDebt-Income
Debt-Medium to Long Duration
SBI Magnum Insta Cash FundSBI Magnum Ultra Short Duration FundDebt-Liquid
Debt-Ultra Short Duration
SBI Magnum Insta Cash Fund – Liquid Floater PlanSBI Overnight FundDebt-Liquid
Debt-Overnight
SBI Magnum Monthly Income PlanSBI Debt Hybrid FundDebt-MIP
Hybrid-Conservative
SBI Magnum Monthly Income Plan – FloaterSBI Multi Asset Allocation FundDebt-MIP
Hybrid-Multi Asset Allocation
SBI Magnum Multiplier FundSBI Large and Midcap FundEquity-Multi Cap
Equity-Large & Mid Cap
SBI Magnum Tax Gain Scheme 93SBI Magnum Tax Gain SchemeEquity-Tax PlanningEquity-ELSS
SBI Nifty Index FundSBI Nifty Index FundEquity-IndexOthers-Index
SBI Pharma FundSBI Healthcare Opportunities FundEquity-Sector
Equity-Sectoral/Thematic
SBI Premier Liquid FundSBI Liquid FundLiquid-LiquidDebt-Liquid
SBI PSU FundSBI PSU FundEquity-Diversified
Equity-Sectoral/Thematic
SBI Regular Savings FundSBI Magnum Medium Duration FundDebt-Income
Debt-Medium Duration
SBI Savings FundSBI Savings FundDebt-Floating Rate Fund
Debt-Money Market
SBI Short Term Debt FundSBI Short Term Debt FundDebt-Short Term
Debt-Short Duration
SBI Small & Midcap FundSBI Small Cap FundEquity-Small Cap
Equity-Small Cap
SBI Treasury Advantage FundSBI Banking & PSU FundDebt-Ultra Short Term
Debt-Banking & PSU
SBI Ultra Short Term Debt FundSBI Magnum Low Duration FundDebt-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 FundSBI Arbitrage Opportunities FundHybrid-Arbitrage
Hybrid-Arbitrage
SBI Banking & Financial Services FundSBI Banking & Financial Services FundEquity-Sector
Equity-Sectoral/Thematic
SBI Bluechip FundSBI Bluechip FundEquity-Large Cap
Equity-Large Cap
SBI Dynamic Bond FundSBI Dynamic Bond FundDebt-Dynamic
Debt-Dynamic
SBI Infrastructure FundSBI Infrastructure FundEquity-Sector
Equity-Sectoral/Thematic
SBI Magnum COMMA FundSBI Magnum COMMA FundEquity-Sector
Equity-Sectoral/Thematic
SBI Magnum Midcap FundSBI Magnum Midcap FundEquity-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.

Read More: Categorization and Rationalization of Mutual Fund Schemes

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.