CNBC-TV18's Surabhi Upadhyay talks to the management of SBI Mutual Fund to find out what financial year 2020 may have in store for your money.
Here's what they have to say:
Ashwani Bhatia, MD and CEO of SBI MF: FY19 was very special for us. We gained about 17 lakh customers. The good thing in all this is that 13 lakh of these customers came through the systematic investment plan (SIP) book. SIP book grew more than 50 percent... the savers are becoming investors and they are getting more and more confident. So if you look at the numbers also - three years back mutual fund assets were 10 percent of the banking book, today we are at 20 percent. So that is the story in itself.
The growth will be there, the growth will keep coming. The fact that Association of Mutual Funds in India (AMFI) launched their project - Mutual Funds Sahi Hai - it is growing deeper and deeper... the big towns are growing bigger so I think going forward this number will only get bigger and bigger. There are no second thoughts about that.Navneet Munot, ED and CIO, SBI MF:
Our purpose, our vision is to be the wealth creator for every Indian. More than these numbers, the numbers of investors that we talked about - they matter to us a lot because that is how we reach out to a large number of people and ensure that through us they participate in India’s growth story.