SBI Mutual Fund

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SBI Mutual Fund (SBIMF) is a joint venture of State Bank of India (SBI) with AMUNDI (France), one amongst the top fund management firms in the world.

SBI and AMUNDI Asset Management entered into a shareholder agreement on 13 April 2011, regarding this matter. As a result, SBI currently owns a 63% stake in SBIFML, with AMUNDI Asset Management holding the remaining 37% via Amundi India Holding, a wholly-owned subsidiary.

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The objective of SBIMF is to strive for superior performance by making intelligent investments in Indian debt and equity markets. It has a knowledgeable and skilled team of researchers who create in-depth, analytical, and educational reports on a variety of industries and stocks that have the potential to perform well in the future.

With a mammoth customer base of more than 5.4 million investors, the SBI Mutual Fund is one of the largest mutual funds in India.

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Key Highlights about SBI Mutual Fund

The key highlights about the SBI Mutual Fund are listed in the table below:

Mutual Fund Name	SBI Mutual Fund
Founded	29 June 1987
Trustee Organisation	SBI Mutual Fund Trustee Company Private Limited
Managing Director & Chief Executive Officer	Shamsher Singh
Compliance Officer	Vinaya Datar
Chief Financial Officer	Inderjeet Ghuliani
Investor Relations Officer	Mr. C.A. Santosh

List of SBI Mutual Funds in India 2024

The table below highlights the top SBI mutual funds in India in 2024:

Fund	Category	Risk	NAV	1 Year Returns
SBI Infrastructure Fund	Equity	Very high	Rs.37.56	28.51%
SBI PSU Fund	Equity	Very high	Rs.20.47	26.83%
SBI Long Term Equity Fund	Equity	Very high	Rs.300.25	20.28%
SBI Contra Fund	Equity	Very high	Rs.286.69	20.08%
SBI Healthcare Opportunities Fund	Equity	Very high	Rs.286.95	19.3%
SBI Equity Hybrid Fund	Hybrid	Very high	Rs.228.63	15.01%
SBI Conservative Hybrid Fund	Hybrid	Moderately high	Rs.61.43	8.31%
SBI Multi Asset Allocation Fund	Hybrid	High	Rs.45.42	10.31%
SBI Arbitrage Opportunities Fund	Hybrid	Low	Rs.30.13	6.69%
SBI Equity Savings Fund	Hybrid	Moderately high	Rs.20.23	8.47%
SBI Magnum Income Fund	Debt	Moderately high	Rs.62.15	7.55%
SBI Magnum Medium Duration Fund	Debt	Moderately high	Rs.44.95	7.77%
SBI Liquid Fund	Debt	Moderate	Rs.3,648.50	6.88%
SBI Dynamic Bond Fund	Debt	Moderate	Rs.31.35	5.91%
SBI Magnum Ultra Short Duration Fund	Debt	Moderate	Rs.5,318.18	7.05%

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Top SBI Mutual Fund Managers

Ashwani Bhatia:

In 1985, Ashwani Bhatia began his employment with the State Bank of India as a probationary officer. Since July 2018, he has been on loan to the SBI Mutual Funds Management Board, serving as a deputy managing director of the bank. Mr. Bhatia has worked in banking for his entire life and has accumulated a wealth of knowledge in retail, international banking, and credit and treasury.

At the time of the redesign of the Corporate Credit Structures, he served as SBI’s Chief General Manager. He has also held the position for several years as the bank’s Chief General Manager of SME (Small and Medium Enterprises).

R. S. Srinivas Jain:

In addition to broking and investment advisory, Srinivas Jain has over 29 years of experience in the financial services sector, including over 22 years in investment management firms. In his capacity as Chief of Strategy, Digital & Technology, he is in charge of the organization’s major strategic projects and leads the teams in charge of digital and technology. Additionally, he oversees initiatives for international business development and represents the company in a number of sustainability-related projects.

He has led numerous positions in the company that have involved marketing, sales, and product development over the years. He was employed by Kotak Securities and Birla Sunlife Asset Management prior to joining the company.

D.P. Singh:

D. P. Singh has an abundant experience in the banking and financial services sectors spanning over 31 years. He oversees all organisational business verticals and segments in his capacity as DMD and Joint CEO. He has worked for SBI Mutual Fund for 25 years. In that time, he has held numerous senior leadership positions, guided the company’s steady rise in AUM, market share, and profits, and played a key role in extending the fund house’s reach into urban as well as rural regions.

Aparna Nirgude:

Having worked for SBI Funds Management Limited for more than 26 years, Aparna Nirgude has led the risk department since 2005. Prior to assuming leadership as Chief Risk Officer, she managed a range of duties in the organization’s Investment Management and Research divisions. Aparna graduated from the esteemed Jamnalal Bajaj Institute of Management Studies with a degree in management.

Rajeev Radhakrishnan:

In 2008, Rajeev began working at SBIFM as a fixed income portfolio manager. At the moment, he oversees the AMC’s Fixed Income desk. Rajeev worked for UTI Asset Management for seven years as a co-fund manager for fixed income before he joined SBIFM. With a master’s degree in finance from Mumbai University, this Engineering graduate is also a charter holder of the CFA Institute, USA.

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Advantages of SBI Mutual Fund

The key features of the SBI Mutual Fund can be summed up as follows:

SBI Mutual Fund offers around 61 schemes which are spread across different categories. This helps meet the investment objectives of different types of investors.
This Mutual Fund delivers value and retains the trust of the investors through a huge network of more than 222 points of acceptance around the country.
The main philosophy of the SBI Mutual Fund is ‘growth through innovation’. It sticks to the philosophy. The investment policies have been set up accordingly.
With more than 5.4 million investors across the country, the SBI Mutual Fund is one of the biggest investment management firms in the country.
It is one of the most reliable and one of the fastest growing mutual funds in India.

Eligibility for investing in SBI Mutual Fund

The below list of persons/entities are eligible to invest in the units of SBI Mutual Fund:

Adult individuals residing in India, either singly or jointly (cannot exceed 3 people)
Minors through legal guardian or parent
Hindu Undivided Family (HUF)
Non-Resident Indians (NRIs), Persons of Indian Origin (PIO) on repatriation or non-repatriation basis
Companies, corporate bodies, Public Sector Undertakings (PSUs), Societies registered under the Societies Registration Act, 1860
Partnership firms formed under the Partnership Act, 1932
Religious and Charitable Trusts, Wakfs or endowments of private trusts
Qualified Foreign Investor and Foreign Portfolio Investor
Financial institutions and banks (including Regional Rural Banks and Co-operative Banks)
Foreign Institutional Investors (FIIs)
Scientific and Industrial Research Organisations
Army, Navy, Air Force, and other paramilitary funds
Provident/Gratuity/Pension and other such funds as and when permitted to invest
International Multilateral Agencies approved by the RBI and Government of India
A mutual fund through its schemes including Fund of Funds schemes

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Documents required for investing in SBI Mutual Fund

To invest in the schemes of SBI Mutual Fund, the investor has to complete the Know Your Customer (KYC) process. The KYC process is a one-time process which means that if the investor has completed the process earlier in the securities market, he/she need not do it again.

However, if the investor has not completed the process, he/she needs to fill up the KYC application form available at the official website of the fund house or AMFI (Association of Mutual Funds of India), and from mutual fund advisors/brokers. Once the application form is filled, it needs to be submitted at any of the SEBI registered intermediaries with the below documents:

Identity Proof
Address Proof
Passport
Passport size photograph

Once the KYC process is completed, the investor can start investing in the schemes of SBI Mutual Fund provided that he/she has a Permanent Account Number (PAN) and a bank account.

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SBI Mutual Fund Account Statement

The status of your account statement under the SBI Mutual Fund can be checked online. The following steps are required to be followed to check the status of the account statement:

You need to visit the official website of the SBI Mutual Fund at www.sbimf.com.
On the homepage of SBI Mutual Fund click on the ‘Investor Corner’ option from the top menu.
This will give you a drop-down menu.
From the drop-down menu, select the ‘Statement of Account’ option. This will take you to a new webpage.
On the ‘Mutual Fund Statement of Account’ page, select the option of ‘Folio’ or ‘PAN’.
Under this option, you have to enter your Folio Number or your Permanent Account Number (PAN) to proceed.
You can tick the checkbox next to the ‘Schedule Statement of Account’ and select a frequency from ‘Weekly’, ‘Monthly’, or ‘Quarterly’.
Click on ‘SUBMIT’ and an email will be sent to the email ID which is registered with the SBI Mutual Fund. In case you have not registered your email ID, an option is provided on the same page where you can register your email ID. It is important to register your email ID as the statement of account will be sent to the email ID.

How to invest in SBI Mutual Fund Online?

There are 4 ways through which investors can invest in SBI Mutual Fund – online, offline, mobile, and m-Easy app. To invest through the online mode, investors need to follow the below steps:

Visit the official site of SBI Mutual Fund – www.sbi.mf.com
Click on the ‘Invest Now’ button and then on the ‘New User’ button.
The investor then needs to enter his/her PAN, email ID, mobile number, and select a password.
Select the ‘Register’ button.
Once the registration is complete, investors can use the ‘New Investment’ button and start investing.

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Types of funds offered by SBI Mutual Fund

SBI Mutual Fund offers 61 schemes across the categories – equity, debt, hybrid, solution-oriented and index funds.

Equity Funds by SBI Mutual Fund

Equity funds predominantly invest in stocks and hence, are sometimes also referred to as stock funds. In the equity category, SBI Mutual Fund offers 26 schemes (18 open-ended schemes and 8 close-ended schemes), the brief features of which are given below:

SBI Magnum Midcap Fund

It is an open-ended growth scheme that helps investors earn profits on their investments over a long term and this is achieved by concentrating investments on equity stocks of mid cap companies.

Investment Objective – To provide investors with a chance to grow their capital and offer liquidity of an open-ended scheme by investing in the stocks of mid cap companies.
Ideal for – Investors who are willing to take high risks and wish to grow their investments over a longer duration.

Scheme features:

Benchmark Index	Nifty Midcap 150 Index
Investment Options	Growth and Dividend
Minimum Investment	Rs.5,000
Entry Load	Not Applicable
Exit Load	1% entry load on exiting the scheme within 1 year. No entry load for exiting after 1 year
Riskometer	Moderately High
Fund Manager	Ms. Sohini Andani

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SBI Bluechip Fund

It is an open-ended growth scheme that presents investors with an opportunity to grow their capital over a long term by investing in equities of companies with large market capitalisation.

Investment Objective – To generate long term capital gains for the investor by concentrating its investments in equities of large cap firms through active management of investments.
Ideal for – Investors who seek capital appreciation over a long term and who are willing to take high risks.

Scheme features:

Benchmark Index	S&P BSE 100 Index
Investment Options	Growth and Dividend
Minimum Investment	Rs.5,000
Entry Load	Not Applicable
Exit Load	Exit load of 1% for exiting within 1 year from allotment date. No exit load for exiting after 1 year from allotment date
Riskometer	Moderately High
Fund Manager	Ms. Sohini Andani

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SBI Gold Fund

This is an open-ended Fund of Fund scheme that invests in SBI ETF Gold and was previously known as SBI GETS.

Investment Objective – To offer capital appreciation to investors closely matching the returns given by SBI-ETF Gold.
Ideal for – Investors who wish to invest in SBI-ETF Gold and who wish to grow their capital over a long term.

Scheme features:

Benchmark Index	Price of Gold
Investment Options	Growth and Dividend
Minimum Investment	Rs.5,000
Entry Load	Not Applicable
Exit Load	1% exit load for exit before 1 year from allotment date. No exit load will apply after 1 year
Riskometer	Moderately High
Fund Manager	Mr. Raviprakash Sharma

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Debt Funds by SBI Mutual Fund

Debt funds mainly invest in fixed income securities, bonds, and money market instruments. SBI Mutual Fund offers 13 open-ended schemes in this category, the features of which are given below:

SBI Magnum Income Fund

This is an open-ended debt scheme that invests on the basis of continuous evaluation of market dynamics, macro-economic factors, and debt-issuer specific factors. By actively managing the credit risk, the scheme aims to offer attractive returns to the investor.

Investment Objective – To offer an opportunity to investors to grow their investment as per their requirements and providing a regular income in the form of dividends by investing in debt securities.
Ideal for – Investors who wish to earn a regular income over medium to long term and invest in debt instruments.

Scheme features:

Benchmark Index	CRISIL Composite Bond Fund Index
Investment Options	Growth and Dividend
Minimum Investment	Rs.5,000
Entry Load	Not Applicable
Exit Load	For exiting before 1 year: No exit load for 10% of the investment, 1% for rest of the investment. No exit load will be charged on exiting after 1 year from allotment date
Riskometer	Moderate
Fund Manager	Mr. Dinesh Ahuja

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Hybrid Schemes by SBI Mutual Fund

In the hybrid category, SBI Mutual Fund has 14 (8 open-ended and 6 close-ended) schemes. All the schemes have been briefly explained below:

SBI Equity Hybrid Fund – Earlier known as SBI Magnum Balanced Fund, this is an open-ended hybrid scheme whose main investment is in equity and equity-related securities. It also allocates a portion of its investments on debt instruments (including securitised debt and money market instruments).

Investment Objective – To offer liquidity and capital appreciation to the investors over a long term by investing in a basket of equities of companies with high growth potential. The scheme also mitigates risk by investing in fixed income securities.
Ideal for – Investors who seek capital appreciation and wish to invest in a mix of equity and debt instruments.

Scheme features:

Benchmark Index	CRISIL Hybrid 35+65 – Aggressive Index
Investment Options	Growth and Dividend
Minimum Investment	Rs.1,000
Entry Load	Not Applicable
Exit Load	For exit before 1 year from allotment date: No exit load for 10% of the investment. For the remaining investment, 1% exit load will apply. No exit load for exiting after 1 year.
Riskometer	Moderately High
Fund Manager	Mr. R Srinivasan (Equity) and Mr. Dinesh Ahuja (Debt)

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SBI Debt Hybrid Fund

Previously known as the SBI Magnum Monthly Income Plan, this open-ended hybrid scheme invests primarily on debt securities. Its secondary investment is made in equity and other associated instruments.

Investment Objective – To present investors with an opportunity to grow their capital through investments predominantly in debt and money market instruments. It also invests up to 25% of its investment on equity and associated instruments.
Ideal for – Investors looking for regular income and capital growth. Also, ideal for investors who wish to invest in a mix of debt and equity-related securities.

Scheme features:

Benchmark Index	CRISIL Hybrid 85+15 – Conservative Index
Investment Options	Growth and Dividend
Minimum Investment	Rs.5,000
Entry Load	Not Applicable
Exit Load	For exit before 1 year from allotment date: No exit load for 10% of the investment. For the remaining investment, 1% exit load will apply. No exit load for exiting after 1 year.
Riskometer	Moderate
Fund Manager	Mr. Dinesh Ahuja (Debt) and Mr. Ruchit Mehta (Equity)

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FAQs on SBI Mutual Fund

How are SBI Mutual Funds redeemed? You can redeem SBI Mutual Funds by visiting the closest fund house and submitting a form. As an alternative, you can visit the official website and sign in with the folio number.
How do I stop a SIP in an SBI Mutual Fund online? You can simply submit a Cancel SIP request to end your SIP online at any time. You have a few options for stopping or cancelling your SIP: use your folio number to log into the SBI Mutual Funds website, get in touch with your agent, or follow the instructions on the online investing platform where you have made your investments.
How can I increase the SBI Mutual Fund SIP amount? Step-up or top-up SIPs can be used to increase the amount of an SBI Mutual Fund SIP. Few fund houses offered this facility in the past. Currently, though, the majority of them do, so it’s best to verify with the fund house first.
Does SBI Mutual Fund offer tax-free mutual fund schemes? You can choose from a variety of SBI mutual fund schemes based on your financial goals. Depending on the kind of fund and length of investment, each of these may have a different tax treatment.
How much money should I put into an EMI in SBI Mutual Fund? The ideal amount is determined by your objectives, risk tolerance, and financial resources. You can decide on an amount and a duration for your EMI investments in SBI mutual funds after taking these factors into account.
Which way should I invest in SBI Mutual Funds—lump sum or EMI? The answer is dependent upon your objectives and financial capacity. You can invest the entire amount at once if you have received a lump sum. On the other hand, you might want to think about the EMI option if your goal is long-term wealth creation.
What is the minimum amount required to initiate an online SBI Mutual Fund SIP? The minimum amount for every SBI mutual fund is determined by the option you choose. The minimum investment amount for an SBI mutual fund SIP is Rs.100, whereas the maximum investment amount for a lump sum investment is Rs.1000.
How do I get in touch with a mutual fund advisor of SBI Mutual Fund? If you have any queries or complaints about SBI Mutual Fund, you can contact them by calling their toll-free helpline at 1800 425 5425 or 022 27786551/ 022 27756501 (local charges applicable).
I am an NRI and interested to invest in SBI Mutual Fund. How do I complete my KYC formalities? To complete the KYC procedure, you will need to download the KYC form, fill it, and submit it at any of the servicing centres of SBI Mutual Fund.