- SBI MF inaugurates new premises in Bengaluru
- Celebrates 25th silver jubilee year
- SBI MF emerged as one of the top fund houses in terms of AUM (Asset Under Management) growth in April – June 2012 quarter
- Investor education campaign reaches out to over 30,000 investors in 24 towns
BENGALURU, THURSDAY 26TH JULY 2012: SBI Mutual Fund, one of the leading mutual fund houses today announced the inauguration of its new premises in Bengaluru at Phoenix Towers, Museum Road.
The branch located at Museum Road would service a large customer base in Bengaluru and also help the fund house to conduct various investor awareness camps.
Through its nationwide investor awareness campaign, “Mutual Fund Ki Paathshaala” in Karnataka we were able to reach out to over 30,000 potential investors in 24 towns. In all, eight paathshala vans covered approximately 300 tier I and tier II towns across India. SBI Mutual Fund would continue to pursue its efforts to reach out to more investors through the investor awareness camps.
Speaking to reporters here in Bengaluru today, on the occasion of new branch opening and recent completion of 25 years of successful operation, Mr Deepak Chatterjee, MD & CEO, SBI Mutual Fund said: “Bangalore and Karnataka have a huge potential for growth in the MF industry. We are serious about tapping this potential. SBI Mutual Fund has not only garnered maximum number of AUM growth in the April to June 2012 quarter at over Rs 5,000 crore, but also reported good performance in most of its mutual fund schemes across equity and debt schemes including SBI Magnum Equity Fund, SBI Magnum Global Fund, SBI Magnum Emerging Businesses Fund, SBI Dynamic Bond Fund etc.”
“We aim to get small investors to participate in the India growth story, through their SIP investments in Mutual Fund schemes,” Mr Chatterjee said.
SBI Mutual Fund, recently emerged as one of the top fund houses in terms of total AUM growth, mobilizing Rs 5,142 crore, during the April to June 2012 quarter. Assets of SBI Mutual, sixth in the rank overall has gained over 12% by adding assets of over Rs 5,000 cr. Increase in growth in percentage terms has been the highest for SBI Mutual with an asset base of 47,184 crore at the end of this quarter.
SBI Mutual Fund, one of the leading mutual fund houses, aims to grow its market size in the state of Karnataka to 15 % in the next three years as compared to nine per cent as on date. Karnataka market size for Mutual Funds sector AUMs is in the region of Rs 50,000 crore with Bengaluru contributing dominant 75 per cent.
SBI Mutual Fund has upwards of Rs 4,000 crore AUMs – comprising 45 per cent retail and 55 per cent institutional assets with around 4 lakh investors in the state.
Karnataka as a state accounts for 6.5% of the total Indian Mutual Fund Market AUMs of Rs 7,00,000 crore.
On the occasion of new branch opening and recent completion of 25 years of successful operation, Mr Deepak Chatterjee, MD & CEO, SBI Mutual Fund said:: “Through our investor education / investor awareness campaign, we intend to reach out to Tier II and Tier III towns in the state, in addition to Bengaluru to reach out to more number of investors and help grow our market share in the state.”
In addition, our proprietary channel which currently contributes 25 per cent of our assets in the region, would also step up their contribution which would help our assets grow in the region he added.
About SBI Mutual Fund:
With 25 years of rich experience in fund management, we at SBI Funds Management Pvt. Ltd. bring forward our expertise by consistently delivering value to our investors. We have a strong and proud lineage that traces back to the State Bank of India (SBI) – India’s largest bank. We are a Joint Venture between SBI and AMUNDI (France), one of the world’s leading fund management companies.
With our network of over 222 points of acceptance across India, we deliver value and nurture the trust of our vast and varied family of investors.
Excellence has no substitute. And to ensure excellence right from the first stage of product development to the post-investment stage, we are ably guided by our philosophy of ‘growth through innovation’ and our stable investment policies. This dedication is what helps our customers achieve their financial objectives.