Bangalore: State Bank of India Mutual Funds grew at 12% beating the industry’ average of 4.1% last year.
Its total Assets Under Management (AUM) growth mobilized Rs. 5,142 crores in the last fiscal and the increase in growth has taken its asset base to Rs 47,184 crores. Managing Director and CEO, Deepak Chatterjee said on Thursday that they were waiting for approvals from SEBI for infrastructure development fund (IDF). Emphasizing the importance for IDF, he said that this would attract long term funds into infrastructure and hinted that SBIMF would consider investing in completed power plants with coal linkages.
The company also said that they would take MF investor awareness campaign, “Mutual Funds Ki Paathshala" to Tier II and III cities to increase their network as well as increase investments. Stating that they would reach out to smaller regions through their 19000 branches across the country, he also said that they would also consider approaching other local financial institutions to help in their efforts.
Categorizing their mutual fund portfolio of nearly Rs. 48,000 crores, Chatterjee said that they had Rs. 13,000 crores through liquidity, Rs. 15,000 crores through equity and Rs. 21000 crores through debts.