SBI Funds first to cross Rs 20,000-crore AUM in ETFs

Mumbai: SBI Funds Management (SBIFM) on Wednesday said it has become the country's first asset manager to cross Rs 20,000 crore of AUM in exchange-traded funds (ETFs).

The company began the ETF journey with the launch of SBI-ETF Gold (earlier known as SBI GETS) in 2009. Since then, it has developed a diversified stable of ETF offerings across asset classes.

Currently, SBIFM has five equity ETFs, one fixed income and one commodity (gold) ETF. SBIFM was also the only ETF manager chosen for EPFO's maiden allocation in equities.

Other than EPFO, SBIFM has investments from over 800 exempt PFs across its product range.

SBIFM has been actively working with service providers on various aspects to make the existing products more efficient and also work on new product innovation, a company statement said here.

Moreover, the company is working on creating smart beta strategies and further expansion of the existing index solutions product range. The current product range is also ideally suited for asset allocation managers looking for passive underlying instruments, it added.

"Over the years, SBIFM has created sophisticated architecture and risk management processes to ensure maintenance of low tracking errors. Both in terms of performance and expense ratio, SBIFM ETFs are extremely competitive," SBI Funds Management Managing Director and Chief Executive Anuradha Rao said.

It has become the country's first asset manager to cross Rs 20,000 crore of AUM in ETFs, the statement said.

With the trust of millions of investors, SBIFM will constantly strive to continue its journey of being a market leader of index solutions and provide its clients with a wide range of products to choose from, Rao added.