SBI Funds Management Private limited, a joint venture between SBI and AMUNDI of France, is aiming at 40 per cent growth in fund mobilization during the current financial year. The company, which had a total asset under management of Rs.42,042 crores as on March 2012, Is looking at a total AuM of Rs. 60.000 crores for the year ending March 2013. "We have been growing faster than the Industry and recently emerged as one of the top fund houses in terms of total AUM growth, mobilizing Rs. 5,142 crores during the first quarter ended June 2012, a growth of 12 per cent. We are confident of maintaining the same growth levels during the remaining quarters of the year and achieve a business of Rs. 60,000 crores by March next year,” Deepak Chatterjee. managing director & chief executive officer, SBI Funds Management Private Limited said.

Its current asset base stands at Rs.47,184 crores and is ranked 6th in the overall mutual fund industry at the end of first quarter. He said the company is looking at Tier-II and Tier-III cities for growth and identified 300 cities pan-India. It is taking a mobile van with audio-visual presentation to educate the people on investing in mutual funds. Through its nationwide investor awareness campaign, 'Mutual Fund Ki Paathshala/ it aims to increase the penetration.