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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
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?
Editor's note: 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 HDFC MF, Nippon India MF, ICICI Prudential MF, Aditya Birla Sun Life MF and UTI MF. It has also increased its market share from 7% in 2013 to almost 18%. After displacing ICICI Prudential MF from the top spot in 2020, SBI MF has only increased its lead. Such has been its success that last year, it made it as a case study to the 16th edition of Philip Kotler’s “Marketing Management”. This is a massive turnaround for a fund …
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?
Editor's note: 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 HDFC MF, Nippon India MF, ICICI Prudential MF, Aditya Birla Sun Life MF and UTI MF. It has also increased its market share from 7% in 2013 to almost 18%. After displacing ICICI Prudential MF from the top spot in 2020, SBI MF has only increased its lead. Such has been its success that last year, it made it as a case study to the 16th edition of Philip Kotler’s “Marketing Management”. This is a massive turnaround for a fund …
As growth in equities cools, asset managers are looking to embed themselves in payrolls, payments, and credit. This raises their influence, but also the stakes.
As retail interest in public issuances fades, mutual funds are filling the gap—funding promoter exits and delivering subpar returns to the very investors they represent.
Atanu Chakraborty’s resignation does not appear as damaging as the bank’s response to it. The ‘all is well’ narrative needs an independent audit.
As growth in equities cools, asset managers are looking to embed themselves in payrolls, payments, and credit. This raises their influence, but also the stakes.
As retail interest in public issuances fades, mutual funds are filling the gap—funding promoter exits and delivering subpar returns to the very investors they represent.
Atanu Chakraborty’s resignation does not appear as damaging as the bank’s response to it. The ‘all is well’ narrative needs an independent audit.
