SBI Mutual Fund, one of India's largest fund houses, has witnessed an increase of over Rs 4,785-crore in its average assets in July.
According to the data available with the Association of Mutual Funds in India (AMFI), SBI MF witnessed an addition of Rs 4,785-crore to its average assets under management (AAUM), at Rs 38,513 crore during the month.
The fund-house now ranks sixth amongst the 43 mutual fund houses in the country and has a market share of 5.8 per cent of industry assets, stated a press release.
SBI MF's recent NFO, SBI PSU Fund, garnered Rs 681-crore, which has also contributed to the increase in AUM.
At a time when multiple NFOs flooded the market and the equilibrium of investors and funds was at a shaky level, this was one of the more successful NFOs, the release said.