Page 3 - Sbi Mutual Fund

SBI MF adds automotive opportunities fund to its thematic line-up

According to fund house, the growing demand for premium automobiles & rising electric vehicle adoption also bodes well for the cos in this sector, while bringing new investment options to the fold

Smallcap stock zooms 10% as SBI MF buys 3% stake; HDFC MF holds 7% equity

Among non-promoter public shareholders, HDFC Mutual fund (via HDFC Balanced Advantage Fund) held 7.4 per cent stake in Savita Oil, according to data on BSE

SBI MF energy fund collects Rs 6,700 crore in new fund offering period

According to the fund house, the scheme received flows from across the country through nearly half a million applications

SBI Mutual Fund mops up over Rs 6,700 cr from Energy Opportunities Fund

SBI Mutual Fund, the country's largest mutual fund house, has collected over Rs 6,700 crore through its latest offering- energy opportunities fund - beating its internal target of Rs 5,000 crore. In a statement, the fund house said the NFO has received a widespread response from all distribution channels and the overall number of applications crossed close to 5 lakh. The NFO saw a large number of new investors participating which underscores the trust of investors and distributors in SBI Mutual Fund. It also underlines the strong belief that investors have in the energy theme, it said. The Energy Opportunities Fund is an open-ended equity scheme following the energy theme tracking the energy index of the benchmark Nifty. The scheme would invest 80-100 per cent of its assets in equity and equity-related instruments of companies engaged in energy (traditional and new) and allied business activities and the balance in other equity and equity-related instruments, including equity ...

Select mutual funds pull the plug on transaction charges to distributors

SBI, DSP, PGIM India among fund houses that have stopped paying the fee

SBI Mutual Fund among buyers of Whirlpool of India's nearly 24% stake

Shares of Whirlpool India fell 3.2 per cent to close at Rs 1,288. Following the share sale, the promoter shareholding in the company will drop to about 51 per cent

SBI Mutual Fund looks to garner up to Rs 4,000 cr from energy-focused NFO

The largest fund house SBI Mutual Fund on Monday said it is looking to garner Rs 3,500-4,000 crore of primary subscription from the new fund launch. SBI energy opportunities fund which is an open-ended scheme following the energy theme, will invest in an optimal mix of domestic and overseas companies engaging in activities such as exploration, production, distribution, transportation and processing of traditional and new energy including but not limited to sectors such as oil & gas, utilities and power. The new fund offer opens on February 6 and closes on the 20th, Shamsher Singh, managing director & chief executive said. On the fundraising target during the NFO period, D P Singh, the deputy managing director & joint chief executive, told PTI that more than the primary subscription they are more interested in wider coverage and the aim it cover/get subscriptions from at least 90 per cent of the pin codes and from at least 2.5-3 lakh investors. "From the fund mop-up ...

Waiting for correction not right approach for India: Amundi group CIO

The US market is pricing in a perfect environment - anticipating inflation to recede to 2 per cent and the Federal Reserve to substantially cut interest rates, Mortier said

SBI Mutual Fund launches new equal-weight index fund, aims Rs 500 cr

The largest fund house SBI Mutual Fund on Monday launched a new equal-weight index fund that will track the Nifty 50 index, and expects to garner at least Rs 500 crore during the primary subscription period. For investors, the open-ended fund comes with a relatively lower cost as it is a passive fund which will remain open from January 16 to 29, the fund house said. "We are targeting to collect at least Rs 500 crore during the primary subscription period," DP Singh, the deputy managing director & joint chief executive at SBI Funds Management, told PTI. The investment objective of the scheme is to provide returns that correspond to the total returns of the securities represented in the underlying Nifty index, he said. Shamsher Singh, the managing director & chief executive, said, the new index fund is a smart-beta strategy that allocates equal weight to all stocks, instead of considering market cap as the sole criteria. Investors who seek balanced diversification and a ...

SBI garners $1 bn from overseas to cater domestic ESG financing market

State Bank of India (SBI) on Wednesday said it has raised USD 1 billion or (about Rs 8,300 crore) to cater to the domestic ESG financing market. The bank has concluded the issuance of USD 1 billion (USD 750 million and green shoe of USD 250 million) through Syndicated Social Loan, SBI said in a regulatory filing. The loan book was closed on January 2, 2024, it said. Last year too, the country's largest lender had raised USD 1 billion syndicated social loan. The fund raised would would cater to domestic ESG (Environmental, Social and Governance) financing market. The funds were raised through two tenures: a three-year and a five-year loan. These funds were raised at 80 basis points and 100 basis points over the secured overnight financing rate (SOFR), respectively. SOFR is a benchmark rate for dollar-denominated derivatives and loans, which replaced the London Interbank Offered Rate or Libor. During the second quarter ended September 30, 2023, the bank reported an 8 per cent incr

SBI Mutual Fund buys 1.5% stake Karur Vysya Bank for Rs 190 crore

SBI Mutual Fund on Tuesday acquired shares of scheduled commercial bank Karur Vysya Bank for Rs 190 crore through open market transactions. According to the bulk deal data available with the BSE and NSE, SBI Mutual Fund (MF) purchased a total of 1,20,00,000 shares, amounting to a 1.5 per cent stake in Karur Vysya Bank. The shares were picked at an average price of Rs 162 apiece on both bourses, taking the combined aggregate deal size to Rs 194.40 crore. Details of the sellers could not be ascertained. On Tuesday, shares of Karur Vysya Bank rose 1.32 per cent to close at Rs 164.90 apiece on the BSE and gained 0.52 per cent to settle at Rs 164.70 per piece on the NSE.

MFIs need to focus on data privacy, cyber security: SBI MD Choudhary

State Bank of India (SBI) managing director Alok Kumar Choudhary on Wednesday said there is a need for micro finance institutions (MFIs) to pay attention to data privacy and cyber security as they deal with data of a large number of customers. Speaking at a conference organised by Sa-Dhan, he said, MFIs should also focus on capacity building to deal with the challenges of the future. "The second thing which is very important is the integration with the evolving regulation particularly when you have data privacy law. The enormous amount of data which has been handled by all the MFIs, this particular aspect (data privacy) requires attention and some kind of action plan needs to be in place," he said. Financial institutions need to focus on improving ease of transaction through digital means, he said, adding, the need of the customers in the changing time has to be addressed as per their convenience and ease. "For this segment of (bottom of the pyramid) customers, we need to understan

BS BFSI Summit: From D P Singh to Swarup Mohanty, meet mutual fund CEOs

Mutual Fund CEOs Panel's theme on October 30: How to speed AUM growth from India to Bharat?

Bond inclusion benefits will play out in the long term: SBI MF CIO

The market was aware that during that latest round of consultations between index providers and investors

Sebi disposes of adjudication proceedings against state-owned LIC

Sebi on Thursday disposed of adjudication proceedings against state-owned LIC with respect to alleged violations of mutual fund norms. The case pertained to the insurer's shareholding in IDBI Mutual Fund. In a 12-page order, Sebi said the alleged violation on part of LIC is to be viewed in the context of the efforts taken by it to complete the merger of IDBI Mutual Fund with LIC Mutual Fund, and disposed of the adjudication proceedings. The regulator had conducted an examination in the matter of alleged non-compliance of MF (Mutual Fund) regulations by LIC with a focus to ascertain if there was any violation of the rules. During the course of examination, the regulator observed that IDBI Bank is the sponsor of IDBI Mutual Fund and directly holds 66.67 per cent and 33.33 per cent equity stake through IDBI Capital Markets & Securities in IDBI AMC, respectively. Also, IDBI Bank holds 100 per cent stake in IDBI MF Trustee Company Ltd. Thereafter, Sebi issued a show cause notice to LI

SBI Mutual Fund agrees to invest Rs 410 crore in Nazara Technologies

Nazara Technologies on Thursday said the country's largest mutual fund SBI MF has agreed to invest Rs 410 crore in the company by subscribing to its preferential allotment of equity by way of private placement. The gaming and sports media platform said the shares carry a face value of Rs 4. The company will issue 57,42,296 shares at a price of Rs 714 per share, aggregating to Rs 409.99 crore, to SBI Mutual Fund by way of preferential issue on a private placement basis. The funds will be invested via three schemes of SBI Mutual Fund, namely SBI Multicap Fund, SBI Magnum Global Fund and SBI Technology Opportunities Fund, it said in a statement. Earlier this week, Nithin and Nikhil Kamath of Zerodha invested Rs 100 crore in the company. The issue is an addition to the issuance of up to 14,00,560 fully paid-up shares approved by the board on September 4, both together aggregating to an amount not exceeding Rs 510 crore, the company said. The fund will be utilised to invest in funding

Gaming firm Nazara Technologies to raise Rs 410 cr from SBI Mutual Fund

Company will use investment for growth objectives including strategic acquisitions

Debt fund managers take active calls to risk-proof their portfolios

This comes even as most fund managers do not foresee rate hikes

SBI Funds completes liquidation of assets in Franklin Templeton MF

SBI Funds Management Ltd on Tuesday said it has completed the liquidation of assets in the six shuttered debt schemes of Franklin Templeton Mutual Fund and distributed Rs 27,508 crore to the latter's unitholders. Franklin Templeton in April 2020 announced shutting down of the six debt mutual fund schemes, citing redemption pressures and lack of liquidity in the bond market. With this, SBI Funds Management has liquidated 217 securities and disbursed around Rs 27,508 crore which constitutes 109 per cent of the value of the securities as on date of winding up -- April 23, 2020, the company said in a statement. It further said that the liquidation activity was done without creating any market dislocation in order to get the best liquidation value and safeguard the interest of unitholders of Franklin Templeton Mutual Fund (FTMF). The company was directed by the Supreme Court in 2021 to undertake the exercise of disbursement and liquidation of assets of the six wound-up debt schemes of .

SBI Mutual Fund listing off the focus, says chairman Dinesh Khara

SBI first revealed its intentions to take the mutual fund subsidiary public on December 15, 2021, with the aim of raising $1 billion