SBI Mutual Funds AUM likely to cross Rs 1 trillion mark soon

SBI Mutual Funds AUM likely to cross Rs 1 trillion mark soon

AUM of SBI Mutual Fund is soon likely to cross Rs 1 trillion-mark

  • October 19, 2015  
  • |  
  • UPDATED   14:17 IST

 Assets under management (AUM) of SBI Mutual Fund has crossed Rs 98,000 crore and is soon likely to cross Rs 1 trillion-mark, its managing director said today.

"At SBI MF, we have recently crossed the AUM of Rs 98,000 crore and we are all set to cross the mark of Rs 1 trillion in near future," SBI MF Managing Director and CEO Dinesh Khara told PTI here.

He was speaking on the sidelines of an event organised by Indian Chamber of Commerce.

In its bid to increase the subscriber base, the company is currently conducting a host of activities which include making its presence felt in every part of the country through independent financial advisors (IFAs), among others.

"We are currently doing multiple things so as to bring more and more subscribers on board. While we are focusing on online sale, we are also trying to have our presence through IFAs in every nook and corner of the country," he said.

Talking about the progress of ongoing SBI Equity Opportunities Fund-Series IV, he said, "we have seen good response coming from the investors for the close-ended scheme, which opened on October 7 and will come to a close on October 21."