Prajna Capital - An Investment Guide

SBI Fund Management is a wholly owned subsidiary of State Bank of India. It got into the business way back in 1987. In 2004, SBI divested 37 per cent of its stake in SBI Fund Management Pvt. Ltd., its mutual fund business, to French entity Société Générale Asset Management for over $35 million. Looking at its public sector heritage, it has been a very bold player. Its aggressive fund management during the bull phase served it well. Fund manager Sabharwal made his mark by displaying a knack for identifying hidden gems. After his exit, Sanjay Sinha put to rest apprehensions that he could not fill his shoes. The AMC was initially known for its closed-end funds. Later, its open ended equity funds made their mark. It was the performance of three funds-Magnum Taxgain, Magnum Global and Magnum Contra-that resulted in investors' changing their perceptions. As these funds had a sensational run, their assets grew multi-fold. These three schemes handle Rs 6.008 crore, out of total equity asse...