SBI Mutual Fund

What SBI Mutual Fund does

SBI Mutual Fund, operated by SBI Funds Management Limited, is India's largest asset management company with approximately Rs 12.5 lakh crore in assets under management (AUM) and a 15.4% market share as of late 2025/early 2026. The firm is a joint venture between State Bank of India (61.86% stake) and Amundi Asset Management of France (36.33% through Amundi India Holding), tracing its roots to 1992 and operating under the brand "SBI Mutual Fund" with sub-brands including Magnum SIF, SBI Funds Management Ltd., and the InvestAP mobile application. Its core offering spans equity mutual funds (large-cap, mid-cap, small-cap, sectoral, thematic), debt mutual funds across duration categories, hybrid balanced funds, passive solutions (index funds, ETFs, FOF, smart beta), solution-oriented retirement and children's schemes, and the newer Specialized Investment Fund (Magnum SIF) platform for HNIs. The product surface is supported by digital infrastructure including the online.sbimf.com portal, the InvestAP mobile app on Android and iOS, financial planning calculators (Goal Planner, SIP, SWP, Retirement, Top-up SIP), risk profiling tools, and a portfolio advisory service.

The company makes money primarily through Total Expense Ratio (TER) charged daily as a percentage of AUM, with revenue and profit tightly correlated to AUM levels and equity market performance. Disclosed FY25 financials show net profit of Rs 2,540.15 crore on a 59.98% net profit margin with a 37.70% profit CAGR between FY23-FY25. Distribution combines State Bank of India's 22,000+ branch network, a dedicated distributor partner portal, CAMS transaction points, direct digital channels, and a Dubai representative office serving NRI investors. Customer segments span mass retail individual investors (450K+), HNIs via Magnum SIF, corporate/institutional treasury clients, and NRIs. The company is preparing for a ~Rs 13,000 crore IPO (SEBI approved June 2026) entirely via Offer for Sale by SBI and Amundi India Holding, which would make it the sixth listed AMC in India and the largest AMC IPO in the country.

Name

SBI Mutual Fund

Legal name

SBI Funds Management Limited

Website

https://sbimf.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

501–1,000 employees

Short description

SBI Mutual Fund is India's largest asset management company, operating a Rs 12.5 lakh crore AUM joint venture between State Bank of India and Amundi, offering equity, debt, hybrid, passive, and specialized investment funds to 450K+ retail, HNI, corporate, and NRI investors across 100+ cities and online.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Investment Management Advisory (RIA) (FSAEAAAB)

Keywords

• Mutual fund management
• Asset management services
• Equity mutual funds
• Debt mutual funds
• Investment management

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Management Fees (TER): SBI Mutual Fund generates revenue through Total Expense Ratio (TER) charges on assets under management. TER includes management fees, administrative expenses, and distribution costs. As India's largest AMC with approximately Rs 12.5 lakh crore AUM, the company reported net profit of Rs 2,540.15 crore in FY25 with 59.98% profit margin and 37.70% profit CAGR between FY23-FY25.
2. IPO Proceeds: The upcoming IPO of approximately Rs 13,000 crore will be entirely an Offer for Sale by existing shareholders State Bank of India and Amundi India Holding, with no fresh equity issuance.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

SBI Mutual Fund operates as India's largest asset management company (AMC), offering a comprehensive suite of mutual fund products spanning equity, debt, hybrid, passive, and specialized investment categories. The company manages approximately Rs 12.5 lakh crore in assets under management (AUM) for over 450,000+ investors, providing systematic investment plans (SIPs), tax-saving schemes, target maturity debt funds, ETFs, and advanced investment strategies such as the Magnum SIF platform.

Product overview

SBI Mutual Fund operates as India's largest asset management company with approximately Rs 12.50 lakh crore in AUM, offering a comprehensive suite of mutual fund products and investment services. The core offering includes Equity Mutual Funds (large-cap, mid-cap, small-cap, sectoral, contra, focused), Debt Mutual Funds (overnight, liquid, money market, various duration categories), Hybrid Mutual Funds (balanced advantage, aggressive hybrid, conservative hybrid), and Passive Solutions (Index Funds, ETFs, Fund of Funds, Smart Beta). The product portfolio is complemented by specialized offerings including Magnum SIF (Specialized Investment Fund with advanced strategies), target maturity debt index funds, ESG-focused funds, and tax-saving ELSS schemes. The platform provides financial planning tools (Goal Planner, Retirement Planner, SIP Calculator), portfolio advisory services, and digital investment capabilities through mobile apps and online platforms.

Differentiator

Problem solved

Functional benefit

Brands

• Magnum SIF: Specialized Investment Fund platform offering alternative investment strategies with MF-like taxation
• SBI Funds Management Ltd.
• Investap

Products and services

• Equity Mutual Funds Long-term capital growth funds investing primarily in equities across market capitalizations including large-cap, mid-cap, small-cap, sectoral, contra, focused, and thematic categories. Targeted at individual investors seeking capital appreciation over a 5+ year horizon.
• Debt Mutual Funds Fixed-income funds for regular income investing across various duration categories from overnight to long duration. Targeted at investors with shorter time horizons (1 day to 3 years) seeking stable returns.
• Hybrid Mutual Funds Balanced funds combining equity and debt investments for regular income and capital appreciation with managed volatility over 3-5 year horizons.
• Passive Solutions (Index Funds, ETFs, FOF) Passive investment solutions including Index Funds, Exchange-Traded Funds (ETFs), Fund of Funds (FOF), and Smart Beta Funds designed to replicate market indices at relatively low cost.
• Solution Oriented Schemes Goal-based mutual fund schemes aimed at retirement planning and children's benefit with tax advantages and defined lock-in periods.
• Fixed Maturity Plans (FMP) Fixed tenure debt mutual fund schemes investing in debt instruments maturing in line with the scheme tenure, providing predictable returns aligned with portfolio maturity.
• SBI ELSS Tax Saver Fund Equity-linked savings scheme providing tax deduction under Section 80C with a 3-year lock-in period for retail investors seeking tax-efficient equity exposure.
• JanNivesh SIP Systematic Investment Plan (SIP) starting at Rs 250 per month, targeting beginners and small investors, invested in SBI Balanced Advantage Fund to promote financial inclusion.
• Magnum SIF (Specialized Investment Fund) SEBI-introduced Specialized Investment Fund platform offering advanced multi-asset investment strategies (Equity Long Short, Hybrid Long Short, Debt Long Short, Sector Rotation) with mutual fund-like taxation benefits. Minimum investment of Rs 10 lakh, targeted at sophisticated and HNI investors.
• SBI CRISIL-IBX 10:90 Gilt + SDL Index – Dec 2029 Index Fund Target maturity debt index fund investing in central government securities (Gilt) and State Development Loans (SDL) at a 10:90 ratio, providing passive fixed-income exposure with maturity in December 2029.
• SBI Nifty G-Sec Jul 2031 Index Fund Target maturity debt index fund providing passive fixed-income exposure to Nifty-tracked central government securities with maturity in July 2031.
• SBI ESG Exclusionary Strategy Fund Equity fund excluding sectors, companies, or practices based on ESG (Environmental, Social, Governance) criteria, investing in sustainable and responsible businesses.
• Portfolio Advisory Services Personalized portfolio advisory service recommending SBI Mutual Fund schemes based on investor risk profile, financial goals, and investment horizon.

Quantifiable outcome

• India's largest mutual fund house with Rs 12.5 lakh crore AUM and 15.4% market share
• +3 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Computer Age Management Services (CAMS)coreImplementation/ SI/ Consulting PartnerCAMS serves as the official registrar and transfer agent for SBI Mutual Fund, handling investor servicing, transaction processing, and account maintenance across multiple service points.
• CSR Implementation PartnersminorStrategic or Co-development PartnerSBI MF CSR initiatives implemented through partnerships with NGOs including ADAPT, CYDA, Mahesh Foundation, Orion Edutech Society, SEDI, SriSathyaSai, TrinityCare, WasteWarriors, YoungIgnited, and Action Against Hunger for healthcare, education, and skill development programs.

Scale indicators9 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• HDFC Asset Management: India's second-largest AMC and a publicly listed direct competitor offering equity, debt, hybrid and passive mutual funds with comparable product breadth and pan-India distribution. Comparable on AUM scale (though smaller), distribution model, and target retail/HNI segments.
• ICICI Prudential Asset Management: Direct peer among top Indian AMCs offering full-spectrum mutual fund products. Backed by ICICI Bank distribution and Prudential global expertise, competing head-to-head with SBI MF for retail SIP market share and institutional mandates.
• Nippon Life India Asset Management: Listed Indian AMC joint venture with Nippon Life of Japan, offering comparable mutual fund product suite. Direct competitor in equity and debt fund categories with similar distribution mix of bank branches, distributors and digital channels.
• Aditya Birla Sun Life AMC: Listed Indian AMC joint venture with Sun Life Financial, offering equity, debt, hybrid and solution-oriented schemes. Direct competitor across retail and HNI segments with overlapping product categories and bank-distribution partnerships.
• UTI Asset Management: One of India's oldest and largest AMCs, listed on stock exchanges. Direct competitor offering a comparable mutual fund product suite with similar retail/institutional mix and AUM scale.
• Kotak Mahindra Asset Management: Indian AMC backed by Kotak Mahindra Bank distribution network. Competes directly across retail mutual fund categories, leveraging bank-branch distribution similar to SBI MF's SBI-parent advantage.
• Axis Asset Management: Indian AMC with Axis Bank as distribution partner, offering a full suite of mutual fund products. Competes for retail SIP inflows and institutional mandates in the same product categories.
• Mirae Asset (India): Indian arm of Korean-headquartered Mirae Asset, growing rapidly in equity mutual fund categories. Comparable product offerings in equity and ETF categories with global investment management lineage similar to Amundi for SBI MF.
• DSP Mutual Fund: Established Indian AMC with strong equity fund franchise and growing passive product suite. Direct competitor in active equity and debt categories with comparable AUM tier and product breadth.

Broad incumbents

• Franklin Templeton India: Indian operations of global asset manager Franklin Templeton. Competes in debt and equity mutual fund categories with global investment capabilities, but as part of a broader international portfolio rather than focused exclusively on India.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/sbi_mf
• YouTubeyoutube.com/user/sbimutualfund
• Facebookfacebook.com/SBIMF
• LinkedInlinkedin.com/company/sbi-mutual-fund
• Instagraminstagram.com/sbimf/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments65 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SBI Mutual Fund