Sohini Andani, who managed India’s second-largest large-cap fund, the SBI Blue Chip Fund, has resigned from SBI Mutual Fund after a 17-year tenure. Andani initially joined SBI Mutual Fund as Head of Research in 2007 and was later promoted to portfolio manager in 2010.
At present, Andani oversees two significant funds at SBI Mutual Fund: the SBI Blue Chip Fund and the SBI Magnum Midcap Fund.
The SBI Blue Chip Fund, one of the country’s largest large-cap funds, had assets totaling ₹43,363 crore under management as of February 29, 2024. Since its inception, the fund has provided investors with a 12% annualized return and a 15% annual return over a 10-year period. Over the past 12 months, the fund has experienced a 30% increase in stock value.
HDFC Bank and ICICI Bank, both heavyweights in the Nifty 50, are the top holdings of the SBI Blue Chip Fund. Other notable holdings include Page Industries, Sun Pharma, Britannia, and Bajaj Finance.
The other fund managed by Andani, the SBI Magnum Midcap Fund, had an AUM of ₹16,467.43 crore as of February 29, 2024. Over the past 12 months, the fund has delivered a 44% return to investors, with annualized returns of 17% since inception and 19.5% over the last decade.
Despite the mid-cap fund’s strong performance over the past year, cash remains the top holding of the SBI Magnum Midcap Fund. Other significant holdings include CRISIL, Sundaram Finance, and Torrent Power.
Additional holdings of the SBI Magnum Midcap Fund include Tube Investments, Schaeffler India, Coromandel International, Sona BLW, and Max Healthcare.
Following Andani’s departure, Saurabh Pant, who has been with SBI MF since 2007, will oversee the Blue Chip fund, while Bhavin Vithlani will manage the Smallcap Fund.
