A safety-first strategy and not having a star manager has only helped the mutual fund business of India’s largest bank. Will it hold its ground?
On 22 December 2022, Shamsher Singh was named the chief executive officer of SBI Mutual Fund, the sixth such appointment in 10 years. That, in any other fund, is a surefire sign of instability and poor performance. But not at SBI MF.
Run by SBI Funds Management Pvt. Ltd—a 63:37 joint venture between State Bank of India and Amundi Asset Management of France—SBI MF’s growth has been 2.4x that of the industry’s over the last 10 years. In the process, it has raced to the top of the pecking order in terms of assets under management, overtaking the likes of …
Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.
Editor, Banking
furquan@mailtmc.com
Delhi