Chandigarh: 10.01.2020- Shri Ashwani Bhatia, MD & CEO, SBI Mutual Fund today addressed senior officials of SBI at its Local Head Office, Chandigarh in the presence of Sh. Rana Ashutosh Kumar Singh, CGM, Chandigarh Circle wherein he said that he believed the growth trajectory of the industry to continue in 2020 as well. Sh. Bhatia said that in terms of an AUM rise, we have already grown by 24% so far in the current financial year compared to the last financial year. This has been possible because the investor interest in the mutual fund industry has risen as they are now becoming more aware about mutual funds as a better investment avenue, thanks to the various successful campaigns run by AMFI such as “Mutual Funds Sahi Hai” and other efforts taken by the industry players. Additionally, investors shifting from physical assets like real estate and gold is another factor which is helping this growth. Punjab region for SBIMF includes Punjab, parts of Haryana, Himachal Pradesh, Jammu and Kashmir, Ladakh, and is very important market for SBIMF. Sh. Bhatia added that we are one of the market leaders in Punjab region with AUM market share of 19% and we have 3.2 % of our AUM being contributed by this region. Continuous efforts by the team has also led to a market share of 20% in the number of active SIPs, in the region. Given the shift to financialization of savings our retail focused strategy in this region has helped gain market share consistently. Our robust reach through our own branches is well complemented by a large SBI branch network.

Shri Bhatia also said that we have a broad base of investors from large scale manufacturers to SMEs, from educational institutes to Government entities and a large pool of salaried investors and we continue to serve them with ­­­24 own branches of SBIMF in addition to SBI branches and other Distribution partners of SBIMF who are pivotal to our growth story. We also deploy latest digital technology like mobile apps and single window mutual fund counters at SBI Bank branches helping them get a seamless customer experience. Along with Shri Bhatia Shri D.P. Singh, ED & CMO, SBI Mutual Fund was also present in the meeting.

In the end Sh. Rana Ashutosh Kumar Singh, CGM, Chandigarh Circle thanked Shri Bhatia and Shri Singh and said that as investors start to understand the various categories of mutual funds, I am confident that the role of mutual funds as a solutions provider will be accepted, and more and more people will move from savers to investors in the coming years. Just like SBI is a Banker to the Nation, SBIMF aspires to be ‘The Asset Manager to the Nation’.

Earlier, in the day, Sh. Bhatia and Sh. Singh addressed media persons in a press conference at Local Head Office of SBI at Chandigarh and briefed them about Mutual Fund in general and SBI Mutual Fund in particular.