The SBI Mutual Fund was established on June 29, 1987, and incorporated on February 7, 1992. It offers 84 primary schemes. The AMC provides 24 equity funds, 16 debt schemes, 6 hybrid schemes, and 38 others, including solution-oriented and passive solutions. The SBI Mutual Fund was the first to introduce a 'Contra' fund, the SBI Contra Fund, to India. In 2013, it acquired the Daiwa Mutual Fund from the Daiwa Group in Japan.
It was the first to start the ESG Fund in India, focusing on the social issues, the environment, and governance for sustainable investments. The Employees’ Provident Fund (EPF) of India invested Rs. 5,000 crore through SBIMF Sensex ETFs in a Mutual Fund in 2015, highlighting a significant milestone in Indian mutual fund history. SBI Mutual Fund has an average asset under management (AAUM) of ₹10.99 lakh crore in the September quarter (Q2 FY25). Over the period from FY19 to FY24, its AAUM recorded a compound annual growth rate (CAGR) of approximately 26%.
Key Information About SBI Mutual Fund
How to Invest in the SBI Mutual Fund
Investing in the best SBI Mutual Funds can be a complex process. To make it easier, here is a step-by-step guide:
1. Choose Your Mutual Fund Type
According to your risk tolerance (low, mid, or high) and financial goals, choose your mutual types, such as equity, debt, hybrid, index, and sector funds.
2. Select a Mutual Fund Scheme
After carefully analysing the historical returns, expense ratio, reviews, and ratings of different schemes, choose your preferred SBI Mutual Fund.
3. Login or Open a Demat Account
Log in to your Stack Wealth account. If you do not have an account, you can register with your mobile number and create a new one immediately.
4. Complete KYC (Know Your Customer) Requirements
The next step involves providing personal information and verifying identity. You must upload a government-issued ID such as PAN, Aadhar and proof of address. Follow the instructions in the app to complete this step smoothly.
5. Select Investment Mode (SIP or lumpsum)
If you prefer regular, disciplined investing, you can set-up a systematic investment plan (SIP), which is periodic (monthly, quarterly, etc.). Alternatively, if you have a large amount to invest, you can make a lump-sum investment. Select the investment period of your choice.
6. Confirm and Track Your Investment
After setting up your investment, sit back and watch your money grow. The Stack Wealth app will provide regular updates and reports on your portfolio’s performance. You can also adjust your investments or withdraw funds as needed.
List of Best SBI Mutual Funds in India
Here is the list of some of the best SBI Mutual Funds in India:
* All data as of 31 Dec 2024
Detailed Overview of SBI Mutual Fund Schemes
Now, let’s discuss these 10 SBI mutual fund schemes in detail:
1. SBI Contra Fund - Regular Plan-Growth
SBI Contra Fund is an open-ended Equity Scheme that invests at least 65% in stocks of companies that follow a contrarian investment theme.
- Fund Performance: The fund's annualized returns for the past three and five years have been around 22.77% and 29.34%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹18515.
- Minimum Investment Amount: The minimum lump sum for SBI Contra Fund is ₹5000; for Min Add Lumpsum, it is ₹1,000; for SIP, it is ₹500.
2. SBI Long Term Equity Fund - Regular Plan - Growth (ELSS)
SBI Long Term Equity Fund (ELSS) is an open-ended Equity-Linked Savings Scheme with a statutory lock-in period of 3 years and tax benefits that invests at least 80% of its assets in equity, bonds, cumulative convertible preference shares, fully convertible debentures, etc.
- Fund Performance: The fund's annualized returns for the past three and five years have been around 24.1% and 24.37%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹19124.
- Minimum Investment Amount: The minimum lump sum for SBI Long Term Equity Fund (ELSS) is ₹500; for Min Add Lumpsum is ₹ 500; for SIP, it is ₹500.
3. SBI Magnum Gilt Fund - Regular Plan-Growth
SBI Magnum Gilt Fund is a debt scheme (open-ended) that invests in government securities across maturity.
- Fund Performance: The fund's annualized returns for the past three and five years have been around 6.9% and 7.04%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹12218.
- Minimum Investment Amount: The minimum lump sum for the SBI Magnum Gilt Fund is ₹5000, for the Min. Add Lumpsum is ₹ 1000, and for the SIP, it is ₹500.
4. SBI Equity Hybrid Fund - Regular Plan-Growth
SBI Equity Hybrid Fund is an open-ended hybrid scheme that invests at least 65% of its assets in equity and equity-related instruments.
- Fund Performance: The fund's annualized returns for the past three and five years have been around 10.78% and 13.65%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹13597.
- Minimum Investment Amount: The minimum lump sum for the SBI Equity Hybrid Fund is ₹1000, for the Min. Add Lumpsum is ₹ 1000, and for the SIP, it is ₹500.
5. SBI Credit Risk Fund - Regular Plan-Growth
SBI Credit Risk Fund is an open-ended debt scheme that invests mainly in AA and below-rated corporate bonds (excluding AA+ rated corporate bonds)
- Fund Performance: The fund's annualized returns for the past three and five years have been around 6.86% and 7.05%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹12204.
- Minimum Investment Amount: The minimum lump sum for the SBI Credit Risk Fund is ₹5000, for Min. Add Lumpsum is ₹ 1000, and for SIP, it is ₹500.
6. SBI Blue Chip Fund - Regular Plan-Growth
SBI Bluechip Fund is an equity scheme (open-ended) that predominantly invests a minimum of 80% in large-cap stocks.
- Fund Performance: The fund's annualized returns for the past three and five years have been around 12.89% and 16.1%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹14390.
- Minimum Investment Amount: The minimum lump sum for the SBI Bluechip Fund is ₹5000, for Min. Add Lumpsum is ₹ 1000, and for SIP, it is ₹500.
7. SBI Multi Asset Allocation Fund - Regular Plan-Growth
The SBI Multi Asset Allocation Fund is an open-ended scheme that invests predominantly in a mix of debt, equity, and commodity instruments (as permitted by SEBI occasionally).
- Fund Performance: The fund's annualized returns for the past three and five years have been around 14.12% and 13.91%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹14867.
- Minimum Investment Amount: The minimum lump sum for the SBI Multi Asset Allocation Fund is ₹5000, for Min. Add Lumpsum is ₹ 1000, and for SIP, it is ₹500.
8. SBI Large & Midcap Fund - Regular Plan-Growth
The SBI Large & Midcap Fund is an open-ended equity scheme that maintains a minimum 35% exposure to large-cap and mid-cap stocks.
- Fund Performance: The fund's annualized returns for the past three and five years have been around 17.08% and 20.94%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹16055.
- Minimum Investment Amount: The minimum lump sum for the SBI Large & Midcap Fund is ₹5000, for Min. Add Lumpsum is ₹ 1000, and for SIP, it is ₹500.
9. SBI Overnight Fund - Regular Plan-Growth
SBI Overnight Fund is a debt scheme (open-ended) investing in overnight securities to generate returns corresponding to the overnight rates in the money markets.
- Fund Performance: The fund's annualized returns for the past three and five years have been around 5.91% and 4.82%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹11883.
- Minimum Investment Amount: The minimum lump sum for the SBI Overnight Fund is ₹5000, for Min. Add Lumpsum is ₹ 1000, and for SIP, it is ₹2000.
10. SBI Arbitrage Opportunities Fund - Regular Plan-Growth
The SBI Arbitrage Opportunities Fund is an open-ended scheme that invests a maximum of 85% of its assets in arbitrage opportunities between equity and equity-related instruments and derivatives. Further, at least 15% of the assets are invested in debt and money market instruments.
- Fund Performance: The fund's annualized returns for the past three and five years have been around 6.51% and 5.39%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹12085.
- Minimum Investment Amount: The minimum lump sum for the SBI Arbitrage Opportunities Fund is ₹5000, for the Min. Add Lumpsum is ₹ 1000, and for the SIP, it is ₹500.
Top Fund Managers
Below is the list of people who have made SBI Mutual Fund Investment a standout choice in a highly competitive market.
1. Mr. Nand Kishore
Mr. Nand Kishore started his career with the SBI as a Probationary Officer in 1990. Currently, he is the MD and Chief Executive Officer of SBI Mutual Funds. He has 34 years of experience in significant banking verticals, including branch banking, treasury operations, international operations, corporate banking, investment banking, and retail banking.
2. Mr. Denys de Campigneulles
Since March 2020, Denys de Campigneulles has been the Deputy CEO of SBI Funds Management Ltd. (SBIFML), having left Amundi Group. He has over 35 years of experience in financial services.
3. Mr. D.P. Singh
D P Singh is currently the DMD and joint CEO of the organisation. He is responsible for all business verticals and segments. He has 25 years of experience with SBI Mutual Fund, has held many senior leadership roles, and has led the company’s consistent growth in several parameters.
4. Mr. R. S. Srinivas Jain
Srinivas Jain has been associated with SBI Funds Management since 2001. He has over 29 years of experience in the financial services industry, including as a broker and investment advisor and over 22 years working in investment management companies. As the Chief of Strategy, Digital, and technology, he oversees the organisation's key strategic initiatives.
5. Ms. Aparna Nirgude
Aparna Nirgude has worked with SBI Funds Management Limited for 26 years. Before becoming the Chief Risk Officer, she managed numerous responsibilities within the company’s Investment Management and Research teams.
6. Mr. R Srinivasan
R Srinivasan has been associated with SBI Funds Management Limited since 2009. As CIO—Equity, he directly manages several funds. He was formerly the Head of Equity and has over 30 years of rich experience in the financial services space.
7. Mr. Rajeev Radhakrishnan, CFA
Rajeev Radhakrishnan joined SBI Funds Management Limited (SBIFML) in 2008 as a Fixed-Income Fund manager and later became Head of Fixed-Income. He has around 20 years of experience in fixed-income fund management and dealing and 22 years of experience in the Asset Management industry. Rajeev is now the CIO of Fixed Income and directly handles many of our flagship funds.
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