DaisyMahony: Starting A Info!

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Starting A Info!

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{{Short description|Indian bank sponsored fund house}}{{Use dmy dates|date=August 2018}}
{{Use Indian English|date=August 2018}}
{{Infobox company
| name = SBI Mutual Fund
| logo = SBI Mutual Fund Logo.svg
| type = [[Joint venture]]
| foundation = {{Start date and age|29 June 1987}}
| location = [[Mumbai]], [[India]]
| key_people = Mr. Nand Kishore (MD & CEO)<ref>{{cite web |title=Management Team |url=https://www.sbimf.com/about-us#sbimf-our-people |website=SBI Mutual Funds}}</ref><ref>{{cite web |title=Management Team |url=https://www.moneycontrol.com/news/business/personal-finance/sbi-mutual-fund-appoints-nand-kishore-as-managing-director-ceo-12877299.html |website=Money Control}}</ref> <br /> Denys de Campigneulles (Deputy CEO)<ref>{{Cite web| title=Addendum to the statement of additional information & scheme information documents of schemes of SBI mutual fund | url=https://www.sbimf.com/en-us/lists/noticeandaddendums/notice%20-%20changes%20in%20key%20personnel%20and%20board%20of%20directors%20of%20sbi%20funds%20management%20pvt%20ltd.pdf | archive-url=https://web.archive.org/web/20220303052311/https://www.sbimf.com/en-us/lists/noticeandaddendums/notice%20-%20changes%20in%20key%20personnel%20and%20board%20of%20directors%20of%20sbi%20funds%20management%20pvt%20ltd.pdf | archive-date=2022-03-03}}</ref><ref>{{Cite web|url=https://www.indiainfoline.com/article/news-mutual-funds/sbi-mf-announces-change-in-key-personnel-120031800302_1.html|title = SBI MF Announces change in Key Personnel}}</ref> <br /> D. P. Singh (Deputy MD & Joint CEO)<ref>{{Cite web|url=https://www.sbimf.com/about-us#sbimf-our-people|title=SBI MF-About us|website=SBI Mutual Fund}}</ref>
| industry = [[Investment management]]
| area_served = India
| products = {{ubl|[[Asset Management]]|[[Wealth Management]]}}
| aum = {{increase}} {{INRConvert|1119756.6|C}} {{small|(September 2024)}}<ref>{{cite web|url=https://economictimes.indiatimes.com/mf/analysis/top-10-mutual-funds-in-india-nippon-india-mutual-fund-aum-rises-37-06-in-2023/articleshow/106886254.cms?from=mdr|title=Top 10 mutual funds in India; Nippon India Mutual Fund AUM rises 37.06% in 2023|website=economictimes.indiatimes.com/|date=16 January 2024}}</ref>
| owner = [[State Bank of India]] (63%)<br>[[Amundi]] (37%)
| num_employees = 1000–1200
| homepage = {{url|https://www.sbimf.com/}}
}}
'''SBI Mutual Fund''' is an Indian private [[asset management company]]<ref>{{cite web |title=About us |url=https://www.sbimf.com/about-us |website=www.sbimf.com |access-date=14 June 2023 |archive-url=https://web.archive.org/web/20230608090628/https://www.sbimf.com/about-us |archive-date=Jun 8, 2023 |language=en-in |url-status=live}}</ref> introduced by the [[State Bank of India]] (SBI) and incorporated in 1987 with its [[Corporate headquarters|corporate head office]] located in [[Mumbai]], [[India]]. SBIFMPL is a [[joint venture]] between the [[State Bank of India]], an [[Public sector banks in India|Indian public sector bank]], and [[Amundi]], a European [[asset management]] company. A shareholder agreement in this regard has been entered on April 13, 2011, between SBI & AMUNDI Asset Management. Accordingly, SBI currently holds 63% stake in SBIFMPL and the 37% stake is held by AMUNDI Asset Management through a wholly owned subsidiary, Amundi India Holding. SBI & AMUNDI Asset Management shall jointly develop the company as an asset management company of international repute by adopting global best practices and maintaining international standards.<ref>{{Cite web|last=Mampatta|first=Sachin P.|date=2011-05-23|title=Amundi SA to acquire 37% stake in SBI Funds|url=https://www.dnaindia.com/business/report-amundi-sa-to-acquire-37-stake-in-sbi-funds-1546390|access-date=2020-12-07|website=DNA India|language=en}}</ref>

==History==
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 on 29 June 1987, SBI Mutual Fund became the first non-'''[[UTI Asset Management|UTI mutual fund]]''' in India.<ref name="auto">{{cite web |url=http://www.amfiindia.com/research-information/mf-history |title= MF History |publisher= [[Association of Mutual Funds of India]]}}</ref> In July 2004, [[State Bank of India]] decided to divest 37 per cent of its holding in its mutual fund arm, SBI Funds Management Pvt Ltd, to Societe Generale Asset Management, for an amount in excess of $35 million.

Post-divestment, State Bank of India's stake in the mutual fund arm came down to 67%.<ref>{{cite news |url=http://www.thehindubusinessline.com/2004/07/15/stories/2004071502430100.htm |title=SBI divests 37 pc in MF arm — Signs MoU with SocGen Asset Management |date=14 July 2004 |publisher= [[Business Line]]}}</ref> In May 2011, Amundi picked up 37% stake in SBI Funds Management, that was held by Societe Generale Asset Management, as part of a global move to merge its asset management business with [[Crédit Agricole]].<ref name="auto1">{{cite news |url=http://www.dnaindia.com/money/report-amundi-sa-to-acquire-37-stake-in-sbi-funds-1546390 |title=Amundi SA to acquire 37% stake in SBI Funds |date=23 May 2011 |work= [[Daily News and Analysis]]}}</ref>

SBI Funds Management Private Limited (SBIFMPL) has been appointed as the Asset Management Company of the SBI Mutual Fund. SBIFMPL is a [[joint venture]] between the [[State Bank of India]], an [[Public sector banks in India|Indian public sector bank]], and [[Amundi]], a European [[asset management]] company.<ref>{{Cite news|url=https://www.bseindia.com/bseplus/AnnualReport/538709/5387090316.pdf|title=BSE India Annual Report|work=BSE}}</ref>

As of September, 2019, the fund house claims to serve 5,809,315 unique investors through approximately 212 branches PAN India.<ref>{{Cite web|url=https://www.sbimf.com/disclosure|title=Disclosure|website=SBI Mutual Fund}}</ref>
As of September 2021, the total AUM stands at Rs.579318.29 crores.<ref>{{Cite web|url=https://www.morningstar.in/tools/mutual-fund-amfi-average-aum-by-fund-house.aspx|title=Mutual Fund Research Tools | Avg AUM by AMC, Avg Assets Under Management by AMC | Morningstar India|website=www.morningstar.in}}</ref>

==Key milestones==

*1987 – Establishment of SBI Mutual Fund <ref name="auto"/>
*1991 – Launch of SBI Magnum Equity Fund <ref>{{cite web |url=http://profit.ndtv.com/mutual-funds/mf-scheme-details-sbi-magnum-equity-fund-regular-plan-dividend_sbi-equityfund |title= SBI Magnum Equity Fund – Regular Plan – Dividend |publisher= [[NDTV Profit]]}}</ref>
*1999 – Launch of sector funds, India's first contra fund: SBI Contra Fund<ref>{{cite web |url=http://articles.economictimes.indiatimes.com/2006-08-04/news/27433839_1_contra-funds-equity-funds-infrastructure-funds |archive-url=https://web.archive.org/web/20151222160600/http://articles.economictimes.indiatimes.com/2006-08-04/news/27433839_1_contra-funds-equity-funds-infrastructure-funds |url-status=dead |archive-date=22 December 2015 |title=Are contra funds for you? |date=4 March 2006 |newspaper= [[The Economic Times]]}}</ref>
*2001 – Involvement in Ketan Parekh Scam SBI Mutual Fund, according to the CBI charge-sheet, purchased 22 lakh shares at Rs 165 each in February 2000 through off-market deals from Ketan Parekh-controlled firms.[https://economictimes.indiatimes.com/mf/mf-news/fund-managers-in-net-over-01-mkt-scam/articleshow/1933563.cms?from=mdr <nowiki>[22]</nowiki>]
*2004 – Joint Venture with Societe General Asset Management<ref>{{cite news |url=http://archive.deccanherald.com/Deccanherald/nov072004/b1.asp |title=SBI MF forms joint venture with SGAM of France |date=7 November 2004 |publisher= [[Deccan Herald]]}}</ref>
*2006 – Became the first bank-sponsored fund to launch an [[offshore fund]] – SBI Resurgent India Opportunities Fund<ref>{{cite news |url=http://economictimes.indiatimes.com/top-10-mutual-funds/sbi-mutual-fund/slideshow/3120183.cms |title=Top 10 Mutual Funds |date=11 Jun 2008 |newspaper= [[The Economic Times]]}}</ref>
*2011 – Stake Transfer from SGAM to [[Amundi|Amundi Asset Management]]<ref name="auto1"/>
*2013 – Acquisition of Daiwa Mutual Fund, part of the Tokyo-based [[Daiwa Securities Group]]<ref>{{cite news |url=http://articles.economictimes.indiatimes.com/2013-06-05/news/39764417_1_daiwa-mutual-fund-asset-sbi-mf |archive-url=https://web.archive.org/web/20131213150827/http://articles.economictimes.indiatimes.com/2013-06-05/news/39764417_1_daiwa-mutual-fund-asset-sbi-mf |url-status=dead |archive-date=13 December 2013 |title=Daiwa Mutual Fund calls it quits, to sell assets to SBI Mutual Fund |date=5 June 2013 |newspaper= [[The Economic Times]]}}</ref>
*2013 – Launch of SBI Fund Guru, an investor education initiative <ref>{{cite news |url=http://www.indiaprwire.com/pressrelease/mutual-funds/20130807224391.htm |title=SBI Mutual Fund is 1st to launch unique investor education campaign |date=7 Aug 2013}}</ref>
*2015 – [[Employees' Provident Fund Organisation]] decided to invest in the equity market for the first time by investing Rs. 5,000 crore in the Nifty and Sensex ETFs (Exchange Traded Fund) of SBI Mutual Fund <ref>{{cite news |url=http://www.thehindubusinessline.com/markets/pf-body-to-invest-5000-cr-in-equity-market-via-sbi-mf/article7508605.ece |title=PF body to invest ₹5,000 cr in equity market via SBI MF |date=6 Aug 2015 |publisher= [[Business Line]]}}</ref>
*2018 – First AMC in India to launch an Environment, Social and Governance (ESG) fund viz Magnum Equity ESG Fund
*2018 – Signatory to the United Nations Principles for Responsible Investment (UN-PRI)<ref>{{Cite web|url=https://www.unpri.org/signatory-directory/sbi-funds-management-limited/3491.article|title=SBI Funds Management Limited|website=PRI}}</ref>

==Products and Services==

===Equity===
The company provides a broad range of equity funds, spanning diversified, thematic, and sector-based options. Investors can customize their portfolios based on specific interests and strategies. The offerings cater to both well-balanced approaches and targeted investments in particular themes or sectors. Overall, the company aims to meet diverse investor needs and financial goals.<ref>{{Cite web|url=https://www.sbimf.com:443/en-us/equity-schemes|title=Equity Funds – SBI Mutual Fund|website=www.sbimf.com|language=en-US|access-date=2019-12-09}}</ref>

===Debt===
The company has a robust product range matching all maturities for cash management. The focus of investment philosophy is primarily on the product's liquidity as well as on the quality of the securities held in the portfolio.<ref>{{Cite web|url=https://www.sbimf.com:443/en-us/debt-schemes|title=Debt Funds – SBI Mutual Fund|website=www.sbimf.com|language=en-US|access-date=2019-12-09}}</ref>

===Hybrid===
Hybrid Schemes invest in a mixture of multiple asset classes like debt, equity, and gold in different proportions based on the investment objective. The company has a suite of products across the risk-spectrum including a multi-asset offering that has gold in the portfolio into the traditional mix of equity and debt.<ref>{{Cite web|url=https://www.sbimf.com:443/en-us/hybrid-schemes|title=Hybrid Funds – SBI Mutual Fund|website=www.sbimf.com|language=en-US|access-date=2019-12-18}}</ref>

== Other Large Mutual Fund Houses ==
Some of the major competitors for SBI Mutual Fund in the mutual fund sector are Axis Mutual Fund, Birla Sun Life Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, Nippon India Mutual Fund and [[UTI Mutual Fund]] .<ref>{{cite web |url=http://profit.ndtv.com/mutual-funds/top-fund-houses |title=Top Fund Houses |date=16 Dec 2015 |publisher= [[NDTV Profit]]}}</ref>

==See also==
* [[Mutual funds in India]]
*[[State Bank of India]]

==References==
{{reflist}}
Read More: [https://financeyojna.com/mutual-fund-returns-last-10-years/ Top 10 Mutual Fund]

==External links==
* {{official website|https://www.sbimf.com/en-us}}
* [https://myswpcalculator.in/ SBI SWP Calculator]

{{Major asset management companies}}
{{Banking in India}}
{{SBI}}
{{Credit Agricole Group}}

[[Category:Financial services companies based in Mumbai]]
[[Category:Mutual funds of India]]
[[Category:Exchange-traded funds]]
[[Category:Financial services companies established in 1987]]
[[Category:Investment management companies of India]]
[[Category:1987 establishments in Maharashtra]]
[[Category:Indian companies established in 1987]]
[[Category:Asset management companies]]

SBI Mutual Fund - Revision history

DaisyMahony: Starting A Info!