InvestorQ : How did SBI MF manage to collect a sum of Rs.13,000 crore from its balanced fund NFO?
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How did SBI MF manage to collect a sum of Rs.13,000 crore from its balanced fund NFO?

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4 months ago
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After the roaring success of the ICICI Prudential Flexi-cap Fund and the Nippon Flexi Cap Fund, the latest NFO to break all records is the SBI Balanced Advantage Fund. Earlier, the Nippon Flexi Cap fund had collected Rs.6,000 crore while the ICICI Prudential Flexi Cap Fund had collected Rs.9,500 crore in their NFOs. Now SBI MF has gone one step ahead garnered Rs.13,000 crore in the NFO. This is an all-time record for NFO collections in India.

While final estimates are expected to come in shortly, initial estimates peg total collections at a little over Rs.13,000 crore. That is roughly 35% higher than what the ICICI Prudential Flexi-Cap Fund managed to collect just last month. The bancassurance channel alone is said to have collected close to 50% of the flows through its vast branch network spread across India. SBI MF is already the AUM leader in India with over Rs.520,000 crore in AUM.

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