SBI MF adds 3 million SIP accounts at 40% YoY growth rate in FY22

Asset manager clocks strong performance this fiscal, ahead of its IPO

SBI Mutual Fund (MF), India’s largest fund house, has added three million new systematic investment plan (SIP) accounts so far this financial year, recording nearly 40 per cent year-on-year growth. The fund house said it has received an average Rs 1,800 crore every month through SIPs in FY22 with an average ticket size of Rs 2,500 per client.

SBI MF manages assets over Rs six trillion, the first fund house to hit the milestone. It has a market share of 16.43 per cent, which is highest for any fund house during the past 10 years. Its market share is even higher