Denys De Campigneulles, Executive Director and Deputy CEO of SBI Funds Management and Amundi's representative, has highlighted India as one of the world's most promising markets for asset management. Citing a young population, growing retirement needs, and the ongoing financialization of savings, Campigneulles emphasized the immense growth opportunities within the Indian financial landscape.
SBI Funds Management Prepares for IPO
SBI Funds Management, a significant joint venture between India's largest lender, State Bank of India (SBI), and French asset manager Amundi, is set to launch an Initial Public Offering (IPO) valued at approximately Rs 11,693 crore. This public offering will see SBI offload about 6.3 percent of its stake, while Amundi will reduce its holding by roughly 3.7 percent. Post-listing, SBI will retain a 55.46 percent stake, and Amundi will hold 32.56 percent, confirming their continued commitment to the Indian market.
Robust Growth Projections for India's Asset Management Market
Campigneulles stated that India possesses all the necessary ingredients to become a leading asset management hub globally. The country's mutual fund industry has experienced rapid expansion, with net assets under management (AUM) reaching Rs 81.58 lakh crore as of May 31, 2026. SBI Mutual Fund, which manages the nation's largest mutual fund, reported quarterly average AUM of Rs 12.50 lakh crore in financial year 2026, alongside managing Rs 16.50 lakh crore in portfolio management services (PMS).
Debashish Mishra, MD and CEO of SBI Funds Management, shared projections from Crisil indicating substantial future growth. The mutual fund industry's AUM is expected to surge to around Rs 155 lakh crore by financial year 2030, with PMS growing to Rs 72 lakh crore and Alternative Investment Funds (AIF) reaching Rs 42 lakh crore. This contrasts sharply with mature European markets characterized by an aging population and slower growth.
Amundi's Enduring Partnership with India
As Europe's largest asset manager, Amundi plays a crucial role in SBI Funds Management by providing international reach and technological collaboration. Campigneulles underscored the active and evolving nature of the partnership between Amundi and SBI, affirming Amundi's strong belief in the Indian asset management industry's long-term potential. He reiterated Amundi's commitment to actively contribute to this partnership for decades to come, highlighting the strategic importance of the Indian market for the firm.