SBI Mutual Fund’s newly launched Balanced Advantage Fund has garnered record inflows worth Rs 20,000 crore. This huge AUM has come into the fund in less than three months since the NFO was launched in August.
The fund house said that the new fund has got almost 65% inflows from tier II & III retail investors while the remaining from the top 8 cities.
SBI BAF raised the highest ever AUM for an NFO in the mutual fund industry in August this year. The fund house also said that through this NFO, it has reached out to 93% pin-code across the country with close to 4 lakh applications across India and added 1 lakh new PANs.
The SBI Balanced Advantage Fund is a regular dynamic asset allocation scheme. The fund automatically shifts from equities to debt instruments when equity markets go up substantially and vice-versa.