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SBI Mutual Fund pips HDFC AMC to become largest fund house

SBI MF’s asset under management (AUM) stood at Rs 3.82 lakh crore at the end of January.

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Last Updated: Feb 12, 2020, 06.07 PM IST
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In January, AUM of SBI MF grew by Rs 21,000 crore month-on-month, of which growth in equity portfolio was nearly Rs 3,000 crore and debt at Rs 15,000 crore.
NEW DELHI: SBI Mutual Fund has become the largest asset manager in India, toppling HDFC Asset Management Company. The fund house jumped from the third spot at the end of December to the top in January.

SBI MF’s asset under management (AUM) stood at Rs 3.82 lakh crore at the end of January, ahead of Rs 3.79 lakh crore managed by HDFC AMC and Rs 3.68 lakh crore of ICICI Prudential MF.

SBI MF is already the largest equity investor among funds houses with an AUM at Rs 1.93 lakh crore. Its debt portfolio stood at Rs 1.63 lakh crore, third largest among all fund managers.

In January, AUM of SBI MF grew by Rs 21,000 crore month-on-month, of which growth in equity portfolio was nearly Rs 3,000 crore and debt at Rs 15,000 crore. The fund house operates 695 schemes of which 334 are open-ended and 361 are close-ended.

AMC-top

The asset management arm of State Bank of India has the largest exposure to HDFC Bank at Rs 19,052 crore as of January 31, data available with corporate database Ace Equity showed. Exposure to ICICI Bank and Reliance Industries stands at Rs 11,365 crore and 11,030 crore, respectively.

Among other key investments of the fund manager includes HDFC, Kotak Mahindra Bank, Infosys, Axis Bank, State Bank of India, Tata Consultancy Services, ITC and Bharti Airtel, among others.
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