SBI Mutual Fund

SBI Mutual Fund

A PARTNER FOR LIFE
Type	Private company
Industry	Mutual Fund
Founded	1987
Headquarters	Mumbai, India
Area served	India
Key people	Mrs. Arundhati Bhattacharya (Chairman), anuradha rao (CEO & MD), Mr. Navneet Munot (Executive Director & Chief Investment Officer)
Products	Mutual Fund
AUM	Rs. 98,000 crore ($15,042 million) (Oct 2015)
Number of employees	500-1000
Website	www.sbimf.com

SBI Mutual Fund is a bank sponsored fund house with its corporate headquarters in Mumbai, India. It is a joint venture between the State Bank of India, an Indian multinational, Public Sector banking and financial services company and Amundi, a European asset management company.

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 in 1987, SBI Mutual Fund became the first non-UTI mutual fund in India. 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%. 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.

As of Sept 2015, the fund house claims to serve around 5.8 million investors through 130 points of acceptance, 29 investor service centers, 59 investor service desks and 6 Investor Service Points. In October 2015, assets under management of SBI Mutual Fund are reported to have crossed Rs. 98,000 crore ($15,042 million).

SBI Mutual Fund offers mutual fund schemes such as Debt Schemes, Equity Schemes, Hybrid Schemes, Exchange-traded fund, Liquid Schemes and Fixed Maturity Plans. It also offers Portfolio Management and Advisory Services to financial institutions and asset management companies.