SBI Mutual Fund (MF) is, India’s largest fund house, has added three million new systematic investment plan (SIP) accounts so far this financial year, recording nearly 40 per cent year-on-year growth. The fund house said it had received an average of Rs 1,800 crore every month through SIPs in FY22, with an average ticket size of Rs 2,500 per client.

• Coal India, AMNS Sign MoU on Syn-Gas at Paradip Plant
• HAL Hits 52-Week High of Rs 5,055 on Strong Q1 Results
• MP Approves Rs 1,757 Crore Bhopal-Vidisha Road Project
• Nvidia Reportedly Developing 1 Trillion-Parameter AI Model
• West Coast Paper Hits 52-Week High on Strong Q1 Profit

SBI MF manages assets over Rs six trillion, the first fund house to hit the milestone. It has a market share of 16.43 per cent, which is the highest for any fund house during the past ten years. Its market share is even higher in beyond-30 centres (B30).

This fiscal, SBI MF’s new fund offer (NFO) for SBI Balanced Advantage Fund garnered a record Rs 14,691 crore in August. Earlier this month, the NFO of SBI Multicap Fund mobilised Rs 8,095 crore, the highest mobilisation by a scheme in the multi-cap category.