Non-metros help SBI MF mobilise record sum in Balanced Fund NFO

Over two-third was collected from beyond the top 8 cities; jump in average ticket size plays its part

The ongoing bull run in domestic equities has helped mutual fund (MF) houses mobilise record sums through new fund offering (NFOs).

In July, ICICI Prudential Flexicap had collected Rs 9,808 crore—the highest ever by an actively-managed equity scheme. A month later, the record was broken by SBI Balanced Advantage Fund, which collected Rs 14,551 crore.

How did the country’s largest fund house manage to better the record for highest-ever NFO collection by an actively-managed scheme by almost 50 per cent?

Contribution from smaller towns, increase in average ticket size and a push by distributors could have played a part.

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