New launch of SBI Mutual Fund Balanced Advantage Fund A record investment of Rs 20,000 crore has been made. This huge AUM has come into the fund in less than three months since the launch of the NFO in August.

The fund house said that the new fund has received around 65% from Tier II and III retail investors, while the rest from top 8 cities.

SBI BAF has raised the highest ever AUM for NFO in the Mutual Fund industry in August this year. The fund house also said that through this NFO, 93% pin-codes have been reached across the country with around 4 lakh applications across India and 1 lakh new PANs added.

Read more:
SBI Balanced Advantage Fund NFO collects record Rs 13,000 crore

NS SBI Balanced Advantage Fund Have a regular dynamic asset allocation plan. Funds automatically shift from equity to debt instruments when the equity market goes up significantly and vice versa.

Fund managers believe that balanced advantage funds are best suited for new equity investors looking to navigate uncertain market conditions.