SBI Mutual Fund

The SBI Mutual Fund Trustee Company Private Limited was set up as a trust under the Trust Act of 1882. This Trust controls the SBI Mutual Fund, one of India’s largest and oldest MFs. The SBI Mutual Fund is a Joint Venture (JV) between one of India’s largest and most profitable banks, the State Bank of India, and Amundi, which is a French asset management company.

The SBI Mutual Fund was set up on June 29, 1987 and was incorporated on February 7, 1992. It was India’s second Mutual Fund after the Unit Trust of India started operations in 1963. In July 2004, SBI decided to divest 37% of the Fund and roped in Amundi as a partner.

Amundi is an asset management major created jointly by Crédit Agricole and Société Générale.

SBI MF has many firsts to its name. It was the first Indian Mutual Fund player to launch a ‘Contra’ fund, called the SBI Contra Fund. In 2013, SBI Mutual Fund India acquired Daiwa Mutual Fund, part of the Daiwa Group of Japan.

SBI Mutual Fund is the first in India to launch an ESG Fund. An acronym for Environment, Social and Governance, the fund provides resources for sustainable investment in major markets.

In 2015, the Employees’ Provident Fund of India invested Rs 5,000 Crore for the first time in a Mutual Fund in India via SBIMF Sensex ETFs or Exchange Traded Funds.

As of March 2024, the SBI Mutual Fund manages assets worth Rs. 9.14 lakh crores. In early 2019, it moved past Aditya Birla and HDFC Mutual Funds to emerge as the 3rd largest Mutual Fund body in India based on Assets under Management or AUM.

The SBI MF is registered with the Securities and Exchange Board of India or SEBI.

This is the list of people who have made SBI Mutual Fund investment as an attractive alternative in a fiercely competitive market.

1. Mr. Ashwani Bhatia

Mr. Bhatia started his career with the State Bank of India at the entry level- as a Probationary Officer in 1985. He is a Deputy Managing Director of the SBI and is on loan to the SBI Mutual Funds Management Board since July 2018.

He is currently the MD and CEO of SBI Mutual Funds.

Over a lifetime spent in banking, Mr. Bhatia has acquired immense experience in credit and treasury, International Banking and Retail. He was the Chief General Manager of SBI when the Corporate Credit Structures was revamped. He has also served as the Chief General Manager of the SME (Small and Medium Enterprises) at the bank for a number of years.

2. Mr. Nicholas Simon

Mr. Simon has served as the Deputy CEO of the SBI MF Group since 2015 when he was deputed from the Amundi Group of France, which holds a significant share in the controlling company. Mr Simon has served as the CEO of Real Estate and also as the CAAM for Real Estate from 2006-2015.

Mr Simon has completed his Post Graduation in Law from the Pantheon-Assas University in Paris. He is also Master of Business Management from the Toulouse School of Business. He represents the interests of the Amundi Group on the Board.

Mr Simon has had a wide exposure to International Banking. He has been associated as the Head of Property at Henderson Real Estate in France from 2003-2005. Before that, he was the CEO of Generali Real Estate from 1996-2002.

As the Deputy CEO of SBI Life Insurance, Mr Simon has brought with him a vast experience in matters related to market trends, controlling inflation and beating the competition.

3. Mr. R. S. Srinivas Jain

Mr. Jain has worked with the State Bank of India for nearly 20 years, and has an experience of more than 30 years in Financial Services. He is currently the Executive Director & Chief Marketing Officer of Strategy and International Business at SBI Mutual Funds.

He is a Graduate in Commerce from the University of Bangalore and has a background in Cost Accountancy.

Mr. Jain has been credited with the market domination of the SBI-backed MFs. Under his leadership, the SBI Mutual Fund was awarded twice in consecutive years from CNBC Awaaz as the ‘Most Preferred Brand.’ He has also been instrumental in the brand being recognised as a valuable destination for Investment Management by Reader’s Digest.

4. Mr. D.P. Singh

Mr. Singh is currently the Executive Director & Chief Marketing Officer of the SBI Mutual Funds domestic business. Prior to that, he was the National Sales Head of SBI. Mr. Singh is a Post Graduate in Commerce, and has completed his Post Graduate Diploma in PMIR (Personnel Management & Industrial Relations). He has been associated with the SBI since 1998.

Mr. Singh has been widely credited with carving out a space for the SBI Mutual Fund in both rural and urban consumer demographics. He has been at the forefront of the SBI’s forays in Retail Banking and Information Technology initiatives. He takes keen interest in economics and public affairs.

5. Ms. Aparna Nirgude

Ms. Nirgude serves as the Chief Risk Officer at SBI Mutual Funds. She has been with the Risk division since 2005. An alumnus of the Jamnalal Bajaj Institute of Management Studies, she has previously served as the Research Head at SBI MF.

She has previously managed the Investment Management section of the top SBI Mutual Funds as well.

6. Mr. Rahul Mayor

Mr. Mayor serves as the Chief Investor Relations Manager at SBI Mutual Fund. He has over 19 years of experience in Retail Banking, analytics, business management, investor relations and distributor value propositions. He has a PGDM in Finance and joined SBIMFPL in 2017.

In the past, he has also worked with Franklin Templeton Asset Management and Sundaram Asset Management Company Limited. He brings with him years of knowledge and experience in the global Mutual Funds market to SBI Mutual Fund.

Explore Other AMC's Schemes

1. HDFC Balanced Advantage Fund
2. Nippon India Small Cap Fund
3. Canara Robeco Small Cap Fund
4. Mirae Asset Emerging Bluechip Fund
5. Axis Long Term Equity Fund
6. Axis Small Cap Fund
7. SBI Contra Fund
8. SBI Equity Hybrid Fund Regular Growth
9. Axis Midcap Fund
10. Kotak Emerging Equity Fund