Sohini Andani, the former-fund manager at SBI Funds Management Ltd. recently stepped down from the position after 17 years of her illustrious career. She started at SBI Mutual Fund in 2007 as the Head of Research and was promoted to portfolio manager in 2010.
Sohini Andani: Star Fund Manager
Sohini Andani was passionate about financial analysis. She was born and raised in a middle-class family in Mumbai. After starting as the Head of Research at SBI Mutual Fund in October 2007, She was appointed as a fund manager by May 2010. In a male-dominated industry, Andani was “one of the top 10 best-ranked managers" in India, by Morningstar Inc.
Led Two major funds at SBI Mutual Fund
Sohini Andani has established herself as a prominent fund manager, overseeing approximately Rs 22,713.05 crore of investors' funds. Her expertise is evident in her management of two significant funds at SBI Mutual Fund: the SBI Blue Chip Fund and the SBI Magnum Midcap Fund.
SBI Bluechip Fund (SBF), September 2010:
SBI Blue Chip Fund, which has an AUM of ₹43,363 crore as of February 29, 2024, continues to be one of the top large-cap funds in India. It has provided investors with an annualised return of 12% since its founding and a 15% return over ten years. Notably, two of its largest holdings are the Nifty 50 giants, HDFC Bank and ICICI Bank. The fund's stock has increased by 30% in the last 12 months. Significant investments in the fund include Page Industries, Sun Pharma, Britannia, and Bajaj Finance in addition to HDFC Bank and ICICI Bank.
SBI Magnum Midcap Fund (SMF), July 2010
SMF, with an AUM of Rs 16,458.73 crore as of February 29, 2024, has maintained an annual growth rate of 20% since its founding and over the preceding ten years, giving investors outstanding returns of about 46% over the last year. Andani, the fund manager, is one of the few female fund managers in charge of such large amounts of money. This fund has returned 44% to investors in the last year, with an annualized growth rate of 17% since launch and 19.5% over the previous ten years. Even with midcaps' recent outperformance, cash continues to be this fund's top holding. Torrent Power, CRISIL, Sundaram Finance, and Tube Investments have notable holdings. Max Healthcare, Coromandel International, Sona BLW, Schaeffler India, and Sona BLW are a few other noteworthy players in the larger market.
With Andani's exit, Bhavin Vithlani will assume management of the Magnum Midcap Fund and Saurabh Pant, who has been with SBI MF since 2007, will now oversee the Blue Chip fund.
Overall, why she resigned is not known, but Andani's enormous influence as a woman in finance is praiseworthy. However, her sudden departure has raised questions. Some theories include that she left SBI Funds Management wanting more challenges, that she had to adapt to changes in the industry, and that she wanted to leave a lasting legacy.
(Inputs from other Agencies)
©️ Copyright 2024. All Rights Reserved Powered by Vygr Media.
