Sohini Andani the Star Fund Manager Quits SBI Mutual Fund

In the evolving world of mutual funds, few names shine brightly like – Sohini Andani the star fund manager at SBI Funds Management Ltd. which is India’s largest Mutual Fund (MF) house with Rs 8.99 trillion as assets under management (AUM).

Recently, Sohini Andani, a beacon of leadership and performance, made headlines with her decision to quit SBI Mutual Fund after 17-years of service. She joined SBI Mutual Fund as Head of Research in 2007, post which, she was promoted to a portfolio manager in 2010. Sohini Andani’s tenure at SBI Funds Management is a testament to her expertise and strategic vision.

However, this move by her to quit from her position as fund manager has stirred conversations and speculations among the business insiders and investors. As on date, Andani managed two major funds at SBI Mutual Fund – SBI Blue Chip Fund and the SBI Magnum Midcap Fund.

As of February 29, 2024, the SBI Blue Chip Fund — one of the largest large-cap funds in the nation—had assets under management of Rs 43,355 crore. Since its inception, the fund has given investors an annualised 15% return and a 16% annual return over a ten-year period. Two of the top holdings for the SBI Blue Chip Fund are the two Nifty 50 giants, HDFC Bank and ICICI Bank.

SBI Magnum Midcap Fund, as on February 29, 2024, holds an AUM of Rs 16,458.73 crore. The fund has generated returns around 46% to investors in the last 12 months, and it has increased 20% annually since its inception and during the previous ten years. Surprisingly, cash is the top holding in the SBI Magnum Midcap Fund despite the midcap sector outperforming during the previous year.

Being the fund manager for such famous players from the market also makes Andani one of the women fund managers who have been managing one of the largest amounts of assets. Andani’s decision to step down has left many pondering the reasons behind her departure. While the specifics of her resignation have not been publicly disclosed.

The mutual fund industry is continuously evolving, with shifts in market dynamics, investment philosophies, and regulatory landscapes. Numerous factors could have contributed to Sohini Andani's exit, given the complexity and dynamic nature of the mutual fund business. What remains clear is that Andani’s impact on the sector and her role as a trailblazer for women in finance will be recalled in the years to come.