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SBI Balanced advantage fund AUM crosses ₹20,000cr mark

October 29, 2021

SBI Balanced advantage fund AUM crosses ₹20,000cr mark

SBI Mutual Fund on Thursday said the asset base of its recently launched scheme Balanced Advantage Fund crossed the ₹20,000 crore mark.

The robust assets under administration (AUM) have been acheived in under 90 days.

The Balanced Advantage Fund (BAF) raised ₹14,676 crore through its new fund offering (NFO) in August.

In a statement, the fund house said the new scheme earned just about 65% of inflows from Tier II and III retail investors, while the remaining were from the main 8 urban cities.

“SBI BAF raised the most elevated ever AUM for a NFO in the shared asset industry in its as of late closed NFO and as of the date it has crossed ₹20,000 crore AUM in the asset on the rear of steady new inflows,” SBI Mutual Fund said.

Through this NFO, the fund house has contacted 93% pin code with near 4 lakh applications across India and added 1 lakh new PANs to its group of investors.

Also, the asset house’s other half and half plan SBI Equity Hybrid Fund is moving toward near ₹50,000 crore in AUM on the back of increased flows, a robust increase in the SIP book and focus on digital onboarding of clients.

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