SBI MF becomes highest gainer, adds Rs 3,400 cr

SBI Mutual Fund emerged as the highest gainer in terms of monthly accretion with assets growing by about Rs 3,400 crore during October.

The average assets under management of the fund house promoted by the country's largest lender State Bank of India increased by Rs 3,449 crore in October to Rs 38,322.49 crore, according to the data released by Association of Mutual Funds in India (AMFI).

The increase was mainly because the fund house was able to mobilise relatively higher amount in its short term debt schemes and new investors acquisition, SBI Mutual Fund Chief Marketing officer Srinivas Jain said.

SBI Mutual Fund was followed by UTI Mutual Fund as it added Rs 3,258.55 crore to its assets in October. At the end of October the asset under management (AUM)of the UTI MF stood at Rs 76,847.34 crore.

Source - economictimes.com