SBI Mutual Fund to become the largest fund house
New Delhi: To begin with, the SBI Mutual Fund would emerge as the largest asset manager in India. So then, it came up defeating the HDFC Asset Management Company. Hence, the fund house hopped from the third position at the end of Dec to the top in Jan.
Besides, AUM of SBI MF stood at Rs 3.82 lakh crores at the end of Jan. So then, this came up ahead of Rs 3.79 lakh crores managed by HDFC AMC. Also, Rs 3.68 lakh crores of ICICI Prudential MF.
Despite this, SBI MF already exists as the largest equity investor among fund houses with an AUM at Rs 1.93 lakh crores. Also, its debt portfolio stood at Rs 1.63 lakh crore which came up as the third-largest among all fund managers.
However, in Jan, AUM of SBI MF increased by Rs 21,000 crores month-on-month. Besides, its growth in equity portfolio stood nearly around Rs 3,000 crores. Also, debt funds stood at Rs 15,000 crores. So then, the fund house operates 695 schemes of which 334 remain open-ended and 361 as close-ended.
Hence, the asset management arm of State Bank of India has the largest exposure to HDFC Bank at Rs 19,052 crores as of Jan 31. Also, exposure to ICICI Bank and Reliance Industries stood at Rs 11,365 crores and Rs 11,030 crores respectively.
Moreover, other key investments of the fund manager include HDFC, Kotak Mahindra Bank, Infosys, Axis Bank, SBI, Tata Consultancy Services, ITC, and Bharti Airtel.