SBI Mutual Fund witnesses more than 27% growthin fresh SIPs during FY22-23
SBI Mutual Fund, the largest fund house in the country by AUM, has registered more than 36 lakhnew SIPs in FY 22–23 (as on March 31, 2023), already recording a robust growth of more than 27% vis-à-vis FY 21–22.
The robust growth in the new SIPs is driven by the company’s sustained focus on new market penetration through a strong distribution network of IFAs, national distributors, and SBI branches. SBI Mutual Fund has also further increased its footprint in the country with the opening of new branches in several Tier 2 locations. The fund house received investments through SIPs from investors across the country, with growth across regions – North (28%), East (23%), West (22%), and South (19%) in the last FY. SBI Mutual Fund commands a 18.6% market share in B30 locations and also saw a growth of 22% in active SIPs in the last FY.
FY 22-23 also saw SBI Mutual Fund achieve other key milestones, like being the first fund house to cross Rs. 7 lakh crore AAUM, completing 35 years of operations in the industry, and the highest-ever market share in the industry in the last decade, at around 18%. Consistent investor awareness initiatives and the launch of some very suitable market offerings helped increase the fund house’s mindshare with both existing and new investors. The fund house raised the highest mobilization and entered the dividend yield category, having around a 25% share with the SBI Dividend Yield Fund.
The fund house continues to build capabilities and introduce offerings to investors in line with their financial goals through solution-based offerings, and passive offerings, including target maturity debt funds.
