Who are SBI Funds Management's main competitors?

Named competitors: HDFC Asset Management (HDFCAMC.NS), ICICI Prudential AMC (ICICIAMC.NS), Nippon Life India Asset Management (NAM-INDIA.NS). The cockpit's measured peer set (industry) also includes Stifel Financial (SF), Invesco (IVZ), HDFC Asset Management (HDFCAMC.NS), Affiliated Managers (AMG), SEI Investments (SEIC), iA Financial (IAG.TO).

Is SBI Funds Management expensive compared with its peers?

On forward p/e it trades at 31.1× against a peer median of 13.9×, 4th most expensive of 21 in its peer set.

← CockpitCompetitor Analysis › SBIFUNDS.NS SBI Funds Management LimitedOpen in the cockpit ↗

SBI Funds Management LimitedSBIFUNDS.NSCompetitor analysis, valuation and peers

India · INR·Financials›Investment Managers

India's largest mutual fund manager by assets, a joint venture between State Bank of India and France's Amundi.

≈ India's largest asset manager, akin to a bank-backed Vanguard

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$10.8B

US dollars, full cap

Free float

66%

of shares outstanding

$/day

$8.35M

20-day average traded

Fwd P/E

31.1×

forward earnings

ROIC−WACC

n/a

WACC 9.4%

Hurdle

n/a

no reverse DCF

Next earnings

117 days

3 Mar 2027

Close · INR₹499.55

1D-1.3%

1W+6.7%

1M-0.3%

3M-12.2%

6Mn/a

YTDn/a

1Yn/a

ATR %2.8%

52w lowhigh20.1% off high

What SBI Funds Management does

India's largest mutual fund manager by assets, a joint venture between State Bank of India and France's Amundi.

Earns an annual fee charged on the assets it manages, so income grows with market gains and new inflows, and equity funds pay more per rupee than debt funds. Customers reach it through SBI branches and other distributors, and monthly SIPs, automatic recurring investments, provide steady inflows. State Bank of India holds the majority and Amundi the main minority stake.

In one line: India's largest asset manager, akin to a bank-backed Vanguard.

Products and services

Equity mutual funds
Debt/fixed-income mutual funds
ETFs (SBI Nifty/Gold ETFs)

Customers

Retail investors
Institutional investors

Where it sits in the supply chain

Financials
Asset management
Mutual funds - India

What could go right

Rising mutual fund penetration/SIP flows in India
Equity market-linked AUM growth

What could go wrong

Equity market cyclicality affecting AUM/fees
Fee compression from passive fund competition

Moat: wide (brand, distribution, scale). State Bank of India's vast branch network and brand trust give it the largest distribution reach among Indian asset managers.

Headquarters: Mumbai, India · Founded: 1987 · Employees: 1,828

Named competitors

HDFC Asset Management HDFCAMC.NS
ICICI Prudential AMC ICICIAMC.NS
Nippon Life India Asset Management NAM-INDIA.NS

SBI Funds Management at a glance

Size SBI Funds Management (SBIFUNDS.NS) is an India Financials company (Investment Managers) with a market value of $10.8B, the 116th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹499.55 on 6 Nov 2026.

Growth Revenue grew 21.1% over the last twelve months (peer median +12.4%); the operating margin is 89.1% (peer median 36.2%).

Valuation It trades at 31.1× forward earnings against a peer median of 13.9× (4th most expensive of 21).

Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).

SBI Funds Management financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	n/a	₹45.6B	₹37.6B	₹28.4B	₹23.5B
Revenue growth	—	+21%	+32%	+21%	—
Gross profit	n/a	₹43.4B	₹35.7B	₹26.9B	₹22.9B
EBITDA	n/a	₹41.0B	₹34.5B	₹27.5B	₹18.3B
Net income	n/a	₹30.7B	₹25.4B	₹20.7B	₹13.4B
Free cash flow	n/a	₹26.5B	₹20.4B	₹15.8B	₹12.6B
Capital expenditure	n/a	₹281M	₹1.20B	₹117M	₹131M
Total debt	₹0	₹1.31B	₹1.27B	₹1.12B	₹839M

Quarterly statements and history in the cockpit →

SBI Funds Management competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. SBI Funds Management is the large dot.

SBI Funds Management competitors and peer comparison

Head to head with its named competitors (SBIFUNDS.NS vs HDFCAMC.NS vs ICICIAMC.NS vs NAM-INDIA.NS)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
SBI Funds Management SBIFUNDS.NS	$10.8B	n/a	+21%	89%	31.1×	n/a
HDFC Asset Management HDFCAMC.NS	$12.0B	-7%	+12%	80%	35.5×	n/a
ICICI Prudential Asset Management ICICIAMC.NS	$15.4B	-11%	+22%	73%	39.2×	n/a
Nippon Life India Asset Management NAM-INDIA.NS	$7.22B	-4%	+23%	68%	39.1×	n/a

How SBI Funds Management compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

SBI Funds Management against its 20 peers (data as of 6 Nov 2026)
Measure	SBIFUNDS.NS	Peer median	Rank in peer set
1-month return	-0.3%	+1.9%	8th lowest of 21
Distance from 52-week high	-20.1%	-12.4%	6th lowest of 21
Revenue growth (TTM)	+21.1%	+12.4%	5th highest of 21
Operating margin	89.1%	36.2%	highest of 21
Forward P/E	31.1×	13.9×	4th most expensive of 21

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
SBI Funds Management SBIFUNDS.NS	India	$10.8B	n/a	+21%	89%	31.1×	n/a	n/a
Stifel Financial SF	United States	$10.7B	-7%	+8%	22%	10.3×	n/a	n/a
Invesco IVZ	United States	$11.9B	-1%	+17%	24%	8.6×	n/a	n/a
HDFC Asset Management HDFCAMC.NS	India	$12.0B	-7%	+12%	80%	35.5×	n/a	n/a
Affiliated Managers AMG	United States	$9.39B	+20%	+12%	22%	9.1×	n/a	n/a
SEI Investments SEIC	United States	$12.5B	+15%	+13%	30%	15.3×	n/a	n/a
iA Financial IAG.TO	Canada	$13.1B	+29%	+13%	59%	13.9×	n/a	n/a
IGM Financial IGM.TO	Canada	$13.3B	+7%	+20%	36%	14.0×	n/a	n/a
HealthEquity HQY	United States	$8.57B	+22%	+7%	26%	20.5×	n/a	n/a
Guosen Securities 002736.SZ	China	$13.9B	-16%	-10%	34%	7.9×	n/a	n/a
Carlyle CG	United States	$14.1B	-22%	-44%	14%	10.2×	n/a	n/a
VZ Holding AG VZN.SW	Switzerland	$8.03B	+17%	+9%	45%	24.1×	n/a	n/a
DWS Group GmbH & Co. KGaA DWS.DE	Germany	$14.7B	+7%	+24%	37%	12.6×	n/a	n/a
Banca Generali BGN.MI	Italy	$7.73B	+4%	+17%	38%	15.3×	n/a	n/a
ICICI Prudential Asset Management ICICIAMC.NS	India	$15.4B	-11%	+22%	73%	39.2×	n/a	n/a
Blue Owl Capital OWL	United States	$15.4B	-7%	+11%	17%	10.4×	n/a	n/a
Victory Capital VCTR	United States	$7.38B	+40%	+50%	46%	14.0×	n/a	n/a
ICG ICG.L	United Kingdom	$7.32B	+2%	+6%	60%	11.9×	n/a	n/a
Nippon Life India Asset Management NAM-INDIA.NS	India	$7.22B	-4%	+23%	68%	39.1×	n/a	n/a
China Industrial Securities 601377.SS	China	$7.12B	-9%	-11%	29%	13.2×	n/a	n/a
CVC Capital Partners CVC.AS	Netherlands	$16.9B	+10%	+14%	57%	18.1×	n/a	n/a

Questions

Who are SBI Funds Management's main competitors?: Named competitors: HDFC Asset Management (HDFCAMC.NS), ICICI Prudential AMC (ICICIAMC.NS), Nippon Life India Asset Management (NAM-INDIA.NS). The cockpit's measured peer set (industry) also includes Stifel Financial (SF), Invesco (IVZ), HDFC Asset Management (HDFCAMC.NS), Affiliated Managers (AMG), SEI Investments (SEIC), iA Financial (IAG.TO).
Is SBI Funds Management expensive compared with its peers?: On forward p/e it trades at 31.1× against a peer median of 13.9×, 4th most expensive of 21 in its peer set.