SBI MF AUM to sniff Rs 10-trn milestone soon

Mumbai SBI Mutual Fund, largest fund house by a wide margin in the 43-player industry, has clocked yet another milestone crossing the Rs8 lakh crore-mark assets under management, adding Rs90,000 crore to the asset pile during the first quarter of the fiscal.

Given the current run rate in adding AUM (asset under management), the fund house expects to sniff at the Rs10 lakh crore AUM-mark over the next 12 to 18 months too, a top company official has said. The 43-player mutual fund industry closed May with total assets of Rs43.2 lakh crore despite a fall in net inflows into open-ended mutual funds, which almost halved to Rs59,879.31 crore from Rs1.24 lakh crore in April, when the industry-wide AUM stood at Rs41.61 lakh crore.