SBI MF becomes largest fund house with average assets of Rs 3.74 trn

SBI Mutual Fund has emerged as the largest fund house in the country with average assets of Rs 3.74 trillion in the March quarter, rising 6% from the previous quarter

The fund house has dislodged HDFC MF from the top spot. HDFC MF has seen its asset base shrink from Rs 3.83 trillion in the previous quarter to Rs 3.7 trillion in the March quarter. 

“Process-driven fund management, flows from Employee Provident Fund Organisation, and wide distribution network has helped fund house reach top spot," said Kaustubh Belapurkar, director (fund research), Morningstar India. Among other leading fund houses, ICICI MF saw its asset size shrink from Rs 3.62 trillion to Rs 3.51 trillion in March quarter, slipping from second to third spot.