SBI Mutual Fund,one of India's largest fund houses,has witnessed an increase of over Rs 4,785-crore in its average assets in July. According to data available with the Association of Mutual Funds in India (AMFI),SBI MF witnessed an addition of Rs 4,785-crore to its average assets under management (AAUM),at Rs 38,513 crore during the month. The fund-house now ranks sixth from amongst the 43 mutual fund houses in the country and has a marketshare of 5.8 per cent of industry assets,a press release issued here stated. SBI MF's recent NFO,SBI PSU Fund,garnered Rs 681-crore,which has also contributed to the increase in AUM. At a time when multiple NFOs flooded the market and the equilibrium of investors and funds was at a shaky level,this was one of the more successful NFOs,the release said.
