The SBI Mutual Fund Trustee Company Private Limited was set up as a trust under the Trust Act of 1882. This Trust controls the SBI Mutual Fund, one of India’s largest and oldest MFs. The SBI Mutual Fund is a Joint Venture (JV) between one of India’s largest and most profitable banks, the State Bank of India, and Amundi, which is a French asset management company.
The SBI Mutual Fund was set up on June 29, 1987 and was incorporated on February 7, 1992. It was India’s second Mutual Fund after the Unit Trust of India started operations in 1963. In July 2004, SBI decided to divest 37% of the Fund and roped in Amundi as a partner.
Amundi is an asset management major created jointly by Crédit Agricole and Société Générale.
SBI MF has many firsts to its name. It was the first Indian Mutual Fund player to launch a ‘Contra’ fund, called the SBI Contra Fund. In 2013, SBI Mutual Fund India acquired Daiwa Mutual Fund, part of the Daiwa Group of Japan.
SBI Mutual Fund is the first in India to launch an ESG Fund. An acronym for Environment, Social and Governance, the fund provides resources for sustainable investment in major markets.
In 2015, the Employees’ Provident Fund of India invested Rs 5,000 Crore for the first time in a Mutual Fund in India via SBIMF Sensex ETFs or Exchange Traded Funds.
As of March 2024, the SBI Mutual Fund manages assets worth Rs. 9.14 lakh crores. In early 2019, it moved past Aditya Birla and HDFC Mutual Funds to emerge as the 3rd largest Mutual Fund body in India based on Assets under Management or AUM.
The SBI MF is registered with the Securities and Exchange Board of India or SEBI.
| Fund Name | Category | Risk | 1Y Returns | Rating | Fund Size(in Cr) |
|---|---|---|---|---|---|
SBI Long Term Equity Fund | Equity | Very High | 43.2% | 5 | ₹28,732 |
SBI Contra Fund | Equity | Very High | 32.8% | 5 | ₹41,326 |
SBI Magnum Gilt Fund | Debt | Moderate | 9.7% | 5 | ₹10,422 |
SBI Healthcare Opportunities Fund | Equity | Very High | 45.5% | 4 | ₹3,346 |
SBI Consumption Opportunities Fund | Equity | Very High | 30.3% | 4 | ₹3,100 |
SBI Large & Midcap Fund | Equity | Very High | 30.5% | 4 | ₹29,234 |
SBI Nifty Next 50 Index Fund | Equity | Very High | 50.2% | 4 | ₹1,415 |
SBI Banking & Financial Services Fund | Equity | Very High | 35.2% | 4 | ₹6,407 |
SBI Retirement Benefit Fund | Equity | Very High | 25.2% | 4 | ₹2,837 |
SBI Retirement Benefit Fund | Hybrid | Very High | 22.4% | 4 | ₹1,577 |
SBI Multi Asset Allocation Fund | Hybrid | Very High | 22.5% | 4 | ₹6,257 |
SBI Balanced Advantage Fund | Hybrid | Moderately High | 20.8% | 4 | ₹32,940 |
SBI Retirement Benefit Fund | Hybrid | High | 15.0% | 4 | ₹280 |
SBI Conservative Hybrid Fund | Hybrid | High | 13.8% | 4 | ₹10,030 |
SBI Dynamic Bond Fund | Debt | Moderate | 9.6% | 4 | ₹3,250 |
| View All |
| Mutual fund name | SBI Mutual Fund |
| Asset management company name | SBI Funds Management Ltd. |
| AMC Setup Date | June 29, 1987 |
| AMC Incorporation Date | February 7, 1992 |
| Sponsor name | State Bank of India and AMUNDI |
| Trustee organisation | SBI Mutual Fund Trustee Company Private Limited |
| CIO | Mr. R Srinivasan(Equity) and Mr Rajeev Radhakrishnan(Fixed Income) |
| MD and CEO | Mr Vinay M Tonse |
| Compliance Officer | Ms. Vinaya Datar |
| Investor Service Officer | Mr CA Santosh |
| Total AUM (as of end of last quarter) | Rs. 627589 Cr. |
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Mutual Fund investment not only provides a lot of benefits but can also help in reducing the risk by investing in diverse portfolios. If you are looking to invest in SBI Bank Mutual funds, such an investment can be made online as well as offline. The SBI mutual fund application via offline mode can be done by filling up an investment application form. If you prefer to do it online, the prerequisites of how can you invest in SBI MF online is given below.
However, you can also invest in SBI Mutual Funds online on Groww; the steps for which are given below:
Investing in the most profitable SBI Mutual Fund online is easy and a relatively hassle-free process. Read the process listed below to set up your account in no time at all.
Step 1: First, log in to your Groww account. If you do not have an account, you can register and create a new one right away.
Step 2: Upload your Identification documents. Valid documents include Aadhaar, PAN, Voter ID card, Passport, Driving License, ID issued by either Central or State government.
Step 3: Upload an address proof. Any identifying document that carries your permanent address is valid.
Step 4: Determine your investment’s duration.
Step 5: Determine risk amount- whether it is high, low or medium risk.
Step 6: Select the best SBI Mutual Fund according to your criteria.
Step 7: If you wish to invest a lumpsum amount, click on “Invest One Time.” Alternatively, you can start an SIP by clicking on “Start SIP.”
Your SBI Mutual Fund investment will reflect in your personal Groww account within 3-4 working days.
This is the list of people who have made SBI Mutual Fund investment as an attractive alternative in a fiercely competitive market.
1. Mr. Ashwani Bhatia
Mr. Bhatia started his career with the State Bank of India at the entry level- as a Probationary Officer in 1985. He is a Deputy Managing Director of the SBI and is on loan to the SBI Mutual Funds Management Board since July 2018.
He is currently the MD and CEO of SBI Mutual Funds.
Over a lifetime spent in banking, Mr. Bhatia has acquired immense experience in credit and treasury, International Banking and Retail. He was the Chief General Manager of SBI when the Corporate Credit Structures was revamped. He has also served as the Chief General Manager of the SME (Small and Medium Enterprises) at the bank for a number of years.
2. Mr. Nicholas Simon
Mr. Simon has served as the Deputy CEO of the SBI MF Group since 2015 when he was deputed from the Amundi Group of France, which holds a significant share in the controlling company. Mr Simon has served as the CEO of Real Estate and also as the CAAM for Real Estate from 2006-2015.
Mr Simon has completed his Post Graduation in Law from the Pantheon-Assas University in Paris. He is also Master of Business Management from the Toulouse School of Business. He represents the interests of the Amundi Group on the Board.
Mr Simon has had a wide exposure to International Banking. He has been associated as the Head of Property at Henderson Real Estate in France from 2003-2005. Before that, he was the CEO of Generali Real Estate from 1996-2002.
As the Deputy CEO of SBI Life Insurance, Mr Simon has brought with him a vast experience in matters related to market trends, controlling inflation and beating the competition.
3. Mr. R. S. Srinivas Jain
Mr. Jain has worked with the State Bank of India for nearly 20 years, and has an experience of more than 30 years in Financial Services. He is currently the Executive Director & Chief Marketing Officer of Strategy and International Business at SBI Mutual Funds.
He is a Graduate in Commerce from the University of Bangalore and has a background in Cost Accountancy.
Mr. Jain has been credited with the market domination of the SBI-backed MFs. Under his leadership, the SBI Mutual Fund was awarded twice in consecutive years from CNBC Awaaz as the ‘Most Preferred Brand.’ He has also been instrumental in the brand being recognised as a valuable destination for Investment Management by Reader’s Digest.
4. Mr. D.P. Singh
Mr. Singh is currently the Executive Director & Chief Marketing Officer of the SBI Mutual Funds domestic business. Prior to that, he was the National Sales Head of SBI. Mr. Singh is a Post Graduate in Commerce, and has completed his Post Graduate Diploma in PMIR (Personnel Management & Industrial Relations). He has been associated with the SBI since 1998.
Mr. Singh has been widely credited with carving out a space for the SBI Mutual Fund in both rural and urban consumer demographics. He has been at the forefront of the SBI’s forays in Retail Banking and Information Technology initiatives. He takes keen interest in economics and public affairs.
5. Ms. Aparna Nirgude
Ms. Nirgude serves as the Chief Risk Officer at SBI Mutual Funds. She has been with the Risk division since 2005. An alumnus of the Jamnalal Bajaj Institute of Management Studies, she has previously served as the Research Head at SBI MF.
She has previously managed the Investment Management section of the top SBI Mutual Funds as well.
6. Mr. Rahul Mayor
Mr. Mayor serves as the Chief Investor Relations Manager at SBI Mutual Fund. He has over 19 years of experience in Retail Banking, analytics, business management, investor relations and distributor value propositions. He has a PGDM in Finance and joined SBIMFPL in 2017.
In the past, he has also worked with Franklin Templeton Asset Management and Sundaram Asset Management Company Limited. He brings with him years of knowledge and experience in the global Mutual Funds market to SBI Mutual Fund.
Now let us jump and check about these top 15 mutual fund schemes.
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 25.69% & 25.27%. The SBI Long Term Equity Fund comes under the Equity category of SBI Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for SBI Long Term Equity Fund is ₹500 and for SIP, it is ₹500.
| Min Investment Amt | ₹500 |
|---|---|
| AUM | ₹28,732Cr |
| 1Y Returns | 43.2% |
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 25.35% & 30.61%. The SBI Contra Fund comes under the Equity category of SBI Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for SBI Contra Fund is ₹5,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹5,000 |
|---|---|
| AUM | ₹41,326Cr |
| 1Y Returns | 32.8% |
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 7.2% & 7.54%. The SBI Magnum Gilt Fund comes under the Debt category of SBI Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for SBI Magnum Gilt Fund is ₹5,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹5,000 |
|---|---|
| AUM | ₹10,422Cr |
| 1Y Returns | 9.7% |
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 24.06% & 29.98%. The SBI Healthcare Opportunities Fund comes under the Equity category of SBI Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for SBI Healthcare Opportunities Fund is ₹5,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹5,000 |
|---|---|
| AUM | ₹3,346Cr |
| 1Y Returns | 45.5% |
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 22.78% & 23.75%. The SBI Consumption Opportunities Fund comes under the Equity category of SBI Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for SBI Consumption Opportunities Fund is ₹5,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹5,000 |
|---|---|
| AUM | ₹3,100Cr |
| 1Y Returns | 30.3% |
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 19.5% & 22.44%. The SBI Large & Midcap Fund comes under the Equity category of SBI Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for SBI Large & Midcap Fund is ₹5,000 and for SIP, it is ₹100.
| Min Investment Amt | ₹5,000 |
|---|---|
| AUM | ₹29,234Cr |
| 1Y Returns | 30.5% |
Fund Performance: The SBI Nifty Next 50 Index Fund comes under the Equity category of SBI Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for SBI Nifty Next 50 Index Fund is ₹5,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹5,000 |
|---|---|
| AUM | ₹1,415Cr |
| 1Y Returns | 50.2% |
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 18.51% & 15.58%. The SBI Banking & Financial Services Fund comes under the Equity category of SBI Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for SBI Banking & Financial Services Fund is ₹5,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹5,000 |
|---|---|
| AUM | ₹6,407Cr |
| 1Y Returns | 35.2% |
Fund Performance: The SBI Retirement Benefit Fund comes under the Equity category of SBI Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for SBI Retirement Benefit Fund is ₹5,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹5,000 |
|---|---|
| AUM | ₹2,837Cr |
| 1Y Returns | 25.2% |
Fund Performance: The SBI Retirement Benefit Fund comes under the Hybrid category of SBI Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for SBI Retirement Benefit Fund is ₹5,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹5,000 |
|---|---|
| AUM | ₹1,577Cr |
| 1Y Returns | 22.4% |
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 15.23% & 14.96%. The SBI Multi Asset Allocation Fund comes under the Hybrid category of SBI Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for SBI Multi Asset Allocation Fund is ₹5,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹5,000 |
|---|---|
| AUM | ₹6,257Cr |
| 1Y Returns | 22.5% |
Fund Performance: The SBI Balanced Advantage Fund comes under the Hybrid category of SBI Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for SBI Balanced Advantage Fund is ₹5,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹5,000 |
|---|---|
| AUM | ₹32,940Cr |
| 1Y Returns | 20.8% |
Fund Performance: The SBI Retirement Benefit Fund comes under the Hybrid category of SBI Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for SBI Retirement Benefit Fund is ₹5,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹5,000 |
|---|---|
| AUM | ₹280Cr |
| 1Y Returns | 15.0% |
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 9.95% & 11.56%. The SBI Conservative Hybrid Fund comes under the Hybrid category of SBI Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for SBI Conservative Hybrid Fund is ₹5,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹5,000 |
|---|---|
| AUM | ₹10,030Cr |
| 1Y Returns | 13.8% |
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 7.27% & 7.21%. The SBI Dynamic Bond Fund comes under the Debt category of SBI Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for SBI Dynamic Bond Fund is ₹5,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹5,000 |
|---|---|
| AUM | ₹3,250Cr |
| 1Y Returns | 9.6% |
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