SBI Funds Management Pvt. Ltd became the first mutual fund house in India to cross the Rs. 5 lakh crore average assets under management (AAUM) mark. SBI MF has seen a growth of 35% during the financial year 2020-21, with its average AUM increasing from Rs 3.73 lakh crore to Rs 5.04 lakh crore. The company is a joint venture between India’s largest lender, State Bank of India, and Europe’s largest asset manager, Amundi. The fund house’s SIP book has increased to ₹1,382 crores from ₹1,180 crores over the last year recording a growth of 17%.