SBI Funds Management Limited (formerly SBI Funds Management Private Limited) was incorporated in Mumbai on February 7, 1992, and converted into a public limited company on December 16, 2021. It is a joint venture between SBI and AMUNDI.
The company is India’s largest asset management company by quarterly average mutual fund assets under management (QAAUM). As of December 31, 2025, it reported QAAUM of Rs 12,499.70 billion and a mutual fund market share of 15.4%. It is registered with SEBI under the SEBI (Mutual Funds) Regulations to act as the Investment Manager of SBI Mutual Fund, managing scheme investment portfolios and providing administrative services under a Restated and Amended Investment Management Agreement dated March 12, 2024.
Beyond mutual funds, it offers alternate asset products via Alternative Investment Funds (AIFs). It acts as Investment Manager for SBI Alternative Equity Fund (Category III) and SBI Alternative Debt Fund (Category II), and also manages the Corporate Debt Market Development Fund (CDMDF), an AIF created to provide a backstop facility during corporate debt market dislocations. The company also provides management and advisory services to Category I and Category II foreign portfolio investors as permitted under SEBI regulations.
Internationally, it operates through SBI Funds Management (International) Private Limited in Mauritius, which manages offshore funds. It also established an IFSC presence at GIFT City and incorporated a wholly owned subsidiary, SBI Funds International (IFSC) Limited, on February 7, 2024; the IFSC branch business was transferred to this subsidiary effective August 12, 2024. The company has filed a Draft Prospectus with SEBI and plans an IPO via an Offer for Sale of 203,709,239 equity shares (Re 1 each).
