Sbi Funds Management Limited · NSE:SBIFUNDS
Sbi Funds Management — Q2 FY27 Earnings Presentation
36 slides from Sbi Funds Management's earnings presentation, Oct 23, 2026
Slide 1: SBI Funds Management Limited exchange filing cover letter
SBI Funds Management Limited A joint venture between SBI & AMUNDI (CIN - L65990MH1992PLC065289) Ref. No.: FM/CS/2026/476 Date: October 23, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza Plot No. C/1 Phiroze Jeejeebhoy Towers G Block Bandra – Kurla Complex Dalal Street Bandr
Slide 2: Investor Presentation Quarterly Results Q2 FY27
Annexure - I Investor Presentation Quarterly Results Q2 FY27
Slide 3: Executive Summary
Executive Summary ₹ 13,140 bn ₹ 13,325 bn ₹ 74 bn Mutual fund PMS and Advisory (1) AIF MF QAAUM SIP AUM B-30 MAAUM SIF QAAUM Passive QAAUM (2) ₹13,140 bn ₹2,070 bn ₹3,052 bn ₹44 bn ₹4,152 bn QAAUM AUM MAAUM QAAUM QAAUM 15.0% 12.3% 19.0% 16.2% 27.4% Market Share Market Share CAGR (3) Market Share Mar
Slide 4: Key Highlights
Key Highlights Financial metrics (1) Distribution reach Customer footprint Product suite • ₹ 23,361 mn • 136K + • 18.5 mn • 120 (12% YoY) Distribution Partners Unique investors Total MF schemes Operating Income 126K+ IFAs, 10K+ Bank & NDs 5 new schemes launched • 22.7 mn in Q2 FY27 • ₹ 17,972 mn • 2
Slide 5: Industry Overview
1 2 3 Industry SBI Funds Financial Overview Management Overview 4
Slide 6: Industry overview
Industry overview Quarterly Average AUM Closing AUM Closing AUM (1) Unique Investors (in mn) (₹ tn) (₹ tn) 62 63 87.8 83.4 57 83.3 82.4 0.3 77.1 0.1 75.6 0.2 0.4 8.7 7.9 7.7 7.1 3.6 3.0 6.9 3.3 5.6 2.9 3.1 13.7 2.6 13.0 13.9 12.1 Sep-25 Jun-26 Sep-26 14.3 14.1 15.2 14.8 14.7 14.7 12.3 12.6 SIP Flows
Slide 7: SBI Funds Management Overview
1 2 3 Industry SBI Funds Financial Overview Management Overview 6
Slide 8: Market-leading franchise, powered by scale and cost efficiency
Market-leading franchise, powered by scale and cost efficiency Largest AMC in terms of MF QAAUM (1) Closing MF AUM (4) (in ₹ bn) 18% CAGR (3) (in ₹ bn) 16% CAGR (3) 10% YoY 12,510 11,995 13,140 12,632 6% YoY 10,729 11,502 11,970 9,144 10,632 9,070 Mar-24 Mar-25 Mar-26 Sep-25 Sep-26 Mar-24 Mar-25 Mar
Slide 9: Market-leading franchise, powered by scale and cost efficiency
Market-leading franchise, powered by scale and cost efficiency Equity Oriented QAAUM(1) Debt Oriented QAAUM(2) Liquid Oriented QAAUM(3) (in ₹ bn) 11% YoY (in ₹ bn) 10% YoY (in ₹ bn) 31% YoY 6,220 1,202 5,783 1,713 1,741 5,582 1,565 4,948 1,469 959 896 918 858 1,246 3,858 Mar-24 Mar-25 Mar-26 Sep-25
Slide 10: Balanced asset allocation
Balanced asset allocation MF QAAUM Composition MF Asset Class Sep-25 Sep-26 (in ₹ bn) Sep-25 Sep-26 46.5% 47.0% 6,176 5,582 31.3% 31.6% 4,154 3,755 14.5% 11.9% 1,741 9.1% 1,565 7.7% 1,202 918 0.0% 0.3% - 44 Equity Passives Debt Liquid SIF Equity Passives Debt Liquid SIF (1) Oriented Oriented(1) 9 1.
Slide 11: Leader in Systematic investment plans
Leader in Systematic investment plans SIP AUM Monthly SIP Flows (in ₹ bn) 15% YoY (in ₹ bn) 3% YoY 41 38 39 2,070 1,806 33 1,729 1,577 25 1,273 Mar-24 Mar-25 Mar-26 Sep-25 Sep-26 Mar-24 Mar-25 Mar-26 Sep-25 Sep-26 23% CAGR 16.2 mn 3.6 mn 65.5% 98% ₹ 2,550 SIP Monthly Transactions (1) Live SIP count
Slide 12: Scale of customer footprint
Scale of customer footprint Unique Customer Count Total Folios Customer Mix 10% YoY 12% YoY (in Mn) (in Mn) 40% T30 18.0 18.5 22.7 B30 22.0 60% 16.8 20.2 14.7 19.0 14.6 11.0 MAAUM Individual Mix 44% T30 56% B30 Mar-24 Mar-25 Mar-26 Sep-25 Sep-26 Mar-24 Mar-25 Mar-26 Sep-25 Sep-26 11 Source AMFI & In
Slide 13: Robust multi-channel distribution network
Robust multi-channel distribution network Embedded in SBI’s massive D ch dis ive Scaled, well-diversified branch and digital distribution ea tr third-party network rs utio a Ind r network ifi acro nsive ib i ed n net work thir ss te 136k+ Distribution Partners ( 6% YoY) Access to SBI's extensive bra
Slide 14: Building on the foundation of a robust digital-first approach
Building on the foundation of a robust digital-first approach Digital distribution: Key growth enabler 1 Amplifying digital engagement 2 Expanding distribution channels 3 Empowering distributors 4 InvesTap, Website, Mitra, Partner 94% 4.3 mn 9.3% 37,645 30,525 1.4 mn transactions through InvesTap re
Slide 15: AI Initiatives at SBIFM
AI Initiatives at SBIFM AI at SBIFM: Enhancing Investor Experience and Institutional Capabilities. Customer Engagement Research Efficiency Risk Surveillance Compliance • Responsible AI adoption • Rapid review of large • Technology-enabled • Faster interpretation and across investor service, document
Slide 16: Build on strong technology foundation
Build on strong technology foundation Future-ready Enterprise Unified data platform infrastructure applications Scales securely, stays available and recovers Investment, risk and operations on integrated Single source of truth across operations, predictably platforms engagement, reporting and AI • H
Slide 17: Specialized Investment Fund (SIF)
Specialized Investment Fund (SIF) QAAUM ₹ ₹44 44 bn Bn SIF QAAUM 16% MARKET SHARE ₹273 bn INDUSTRY QAAUM Industry SIF QAAUM SIF Market Share 26% QoQ TWO DIFFERENTIATED INVESTMENT STRATEGIES 01 02 01 EQUITY Magnum MagnumEquity EquityEx-Top Ex-Top100 100Long LongShort ShortFund Fund 02 HYBRID Magnum H
Slide 18: Comprehensive product suite across asset classes
Comprehensive product suite across asset classes Five new schemes launched in Q2FY27 Wide range of product offering Equity Fixed Income International products Hybrid & SIF Alternatives Passive Multi Asset Catering to diverse investor risk profiles and financial objectives 17
Slide 19: Capturing the next big revenue opportunity: Alternatives
Capturing the next big revenue opportunity Portfolio Management Services Alternative Investment Funds Alternatives Institutional Global Category I AIF Category II AIF Category III AIF Retail PMS PMS Investor PMS PMS & Advisory QAAUM (1) (₹ bn) 17% YoY AIF QAAUM (₹ bn) 27% YoY 74 16,885 16,126 66 15,
Slide 20: Growth engines to strengthen leadership and power the next phase
Growth engines to strengthen leadership and power the next phase Deepen retail penetration in Build on digital Expansion of product set Capitalise on international B-30 strengths and investment solutions opportunities ✓ Further penetrate SBI network ✓ Leverage InvesTap platform to ✓ Expansion of pas
Slide 21: ESG – Responsible Investment
ESG – Responsible Investment ESG - Excellence in investments Amongst first Indian Signatories to UNPRI Amongst the earliest asset managers to develop and CA100+ since 2018 elaborate internal frameworks for proxy voting First Indian AMC to adopt the Stewardship Amongst the first Indian AMCs to adopt
Slide 22: Commitment to responsive & inclusive growth
Commitment to responsive & inclusive growth Environmental Sustainability Snippets from the field • 2,250+ cu. mtr. Of water harvesting structure constructed Promotion of education • 4 trainings on Water security • Benefitted 700+ students • Supported 4 schools Rural Development Two mobile eye care c
Slide 23: Financial Overview Highlights
Highlights 1 2 3 Industry SBI Funds Financial Overview Management Overview 22
Slide 24: Revenue and profit momentum
Revenue and profit momentum Revenue from operations Operating profit (in ₹ mn) 12% YoY (in ₹ mn) 23,361 11% YoY 9% YoY 20,887 4% YoY 17,972 16,257 10,913 11,874 8,521 8,902 Q2FY26 Q2FY27 H1 FY26 H1 FY27 Q2FY26 Q2FY27 H1 FY26 H1 FY27 Total revenue Proft after tax (in ₹ mn) (in ₹ mn) 4% YoY (1) 1% YoY
Slide 25: Appendix
£2 SBI FUNDS ‘4 MANAGEMENT LIMITED
Slide 26: Standalone statement of Profit & Loss Account
Standalone statement of Profit & Loss Account (Rs. in millions) Particulars Q2 FY 2027 Q2 FY 2026 % Growth YoY H1 FY 2027 H1 FY 2026 % Growth YoY FY 25-26 Revenue from Operations Asset management fees 11,874 10,913 9% 23,361 20,887 12% 43,746 I. Total revenue from operations 11,874 10,913 9% 23,361
Slide 27: Key performance indicators
Key performance indicators KPI Parameters Unit Sep-26 Sep-25 FY 25-26 Operational KPIs Total QAAUM ₹ billion 26,539 28,180 29,461 Total MF QAAUM ₹ billion 13,140 11,995 12,510 QAAUM - Equity oriented ₹ billion 6,220 5,582 5,783 QAAUM - Fixed Income ₹ billion 1,565 1,741 1,713 QAAUM - Liquid ₹ billio
Slide 28: Breakup of total investments
Breakup of total investments Total investments ₹72,698 Million Breakdown of Total Investments Breakdown of Mutual Fund 2% 16% 39% 61% 82% Mutual Fund G Sec/ SDLs Others Debt Equity Notes: 27 Mutual Funds also include SEBI (Skin in the game) Investments In Arbitrage is included under equity only
Slide 29: Operating Metrics
Operating Metrics Cost to Operating Income Ratio Cost to Income 25.0% 24.2% 23.1% 21.9% 22.2% 20.0% 20.6% 18.4% Q2FY26 Q2FY27 H1 FY26 H1 FY27 Q2FY26 Q2FY27 H1 FY26 H1 FY27 28
Slide 30: Multi-channel distribution network
Multi-channel distribution network MFMF Overall MAAUM Overall MAAUM MF Equity MAAUM 21% 27% 35% 3% 57% 11% 13% 7% 5% 20% SBI Bank Other Banks MFDs NDs Direct SBI Bank Other Banks MFDs NDs Direct 29 Note: Direct includes ROBO, RIA & CD
Slide 31: KPI Definitions (1/2)
KPI Definitions (1/2) Average of daily closing AUM of Mutual Fund and offshore schemes and average of monthly closing AUM of PMS and Advisory and AIF for the latest quarter of the relevant 1 period Quarterly average of daily closing assets under management across all mutual fund schemes managed by t
Slide 32: KPI Definitions (2/2)
KPI Definitions (2/2) AIF QAAUM represents the average of the closing AUM of Alternative Investment Funds (AIFs) managed by the company for each month during the latest quarter of the 13 relevant period 14 Total amount successfully debited (“triggered”) through SIPs in all MF schemes during the last
Slide 33: Disclaimer
Disclaimer This presentation, the oral presentation of the information and any question-and-answer session that follows the oral presentation (collectively, the “Presentation”) prepared by SBI Funds Management Limited (the “Company”) is for information purposes only without regard to specific object
Slide 34: Thank You
& SBI FUNDS MANAGEMENT LIMITED Thank You 33
Slide 35: Annexure II - Press Release
Annexure - II PRESS RELEASE SBI FUNDS MANAGEMENT ANNOUNCES FINANCIAL RESULTS FOR THE QUARTER ENDED SEPTEMBER 30, 2026 The Company delivered a steady performance during the quarter, supported by healthy equity and passive flows, sustained SIP momentum, rising retail participation, and continued inves
Slide 36: About SBI Funds Management Limited
ABOUT SBI FUNDS MANAGEMENT LIMITED SBI Funds Management Ltd. (SBIFML) is one of India’s leading asset management companies, backed by the strong lineage of the State Bank of India and its joint venture partnership with AMUNDI, a globally renowned asset manager based in France. With over 34 years of