Tag: Mr. Vinay Tonse

Business World

SBIFM Pvt. Ltd publishes Integrated Annual Report for FY 2019 – 20

Oct 31, 2020 by Gouri Achary 0 Comments #Mr. Navneet Munot, #Mr. Vinay Tonse, #SBI Funds Management Pvt Ltd

SBI Funds Management Pvt. Ltd. (SBIFM), the leader in the Mutual Fund Industry with assets of Rs 4.21 lakh crores (as on Sept 2020) announced the publication of its Integrated Annual Report for the financial year 2020. The report offers its stakeholders a concise view of how the company’s business, strategy, governance, performance and prospects enabled it to create value for its stakeholders in 2019-20.

SBI Funds Management Pvt Ltd is the first AMC in India to have launched its Integrated Annual Report for the 2nd year in succession. The report has been developed in accordance with the principles of the International Framework of the International Integrated Reporting Council (IIRC) and remains true to its principles of Integrated Thinking.

The report themed on “Building a progressive and sustainable world” explores SBIFM’s continued commitment towards UN’s Sustainable Development Goals, progress across eight capitals and demonstrates its responsibility towards its investors. The report also includes SBIFM’s financial and non-financial performances across a range of areas and provides key insights into its corporate governance, material topics, the principle of responsible investing and value creation process among other sections.

Releasing the report, Mr. Vinay Tonse – MD & CEO of SBIFM said “The 2020 edition while keeping the basic tenets of last year’s report, includes newer elements which highlight our Company’s deep resolve to adhere by the UN’s Sustainable Development Goals (SDGs) – which hold more significance today than ever before – while creating value for our customers and investors”

Mr. Navneet Munot – Chief Investment Officer of SBIFM said “This year through our Integrated Report we are commemorating the 75th anniversary of the United Nations and the 5th anniversary of the adoption of Sustainable Development Goals (SDGs). This year’s report also includes aspects on how we as a company adopted Responsible Investing and how our value creation process highlights the impact of our business on SDGs”

The detailed Statutory Statements and Financial Reports are also part of this document and are in line with the requirements of the Companies Act, 2013 and the rules made thereunder, Indian Accounting Standards and applicable Secretarial Standards.

The complete Integrated Report for FY 2019 – 20 is available at https://www.sbimf.com/en-us/integratedreport/fy20.pdf

Business World

SBI Mutual Fund to launch SBI Magnum Children’s Benefit Fund – Investment Plan

Sep 7, 2020 by Gouri Achary 0 Comments #Mr. D P Singh, #Mr. Navneet Munot, #Mr. Vinay Tonse, #SBI Magnum Children’s Benefit Fund - Investment Plan, #SBI Mutual Fund

Mumbai, September 7, 2020: SBI Mutual Fund announces the launch of SBI Magnum Children’s Benefit Fund – Investment Plan, an open-ended fund to enable parents to invest for their child’s dreams. The Investment Plan is a new offering as part of SBI Magnum Children’s Benefit Fund which currently has Savings Plan, a predominantly debt-oriented offering.

SBI Magnum Children’s Benefit Fund – Investment Plan will predominantly invest in Equity & Equity related instruments including Equity ETFs with a minimum of 65% going up to 100%, Debt including Debt ETFs and money market instruments up to a maximum of 35% in REITS & InvITs up to 10% and up to 20 % in Gold ETFs.

The new plan would be ideal for a child aged 1 year ideally going up to when he/she is 14 years old, thereby allowing long-term capital appreciation over the long-term. There would be a lock-in period for at least 5 years or till the child attains the age of majority, whichever is earlier. 

Mr. Vinay Tonse, MD & CEO, SBI Mutual Fund said: “Funding education of their children is the top priority for any parent. Given the dual challenges of rising cost of education and interest rates coming down significantly, there is a need to look beyond traditional investment options. SBI Magnum Children’s Benefit Fund – Investment Plan is an ideal fit given its construct of being well-diversified across asset-classes, be it equity, debt or gold.”

“Equity asset class as a long-term wealth-creator will help parents in having the right financial support to take care of their child’s future and the sooner they start the better it is,” Mr Tonse added.

Mr. Navneet Munot, Chief Investment Officer, SBI Mutual Fund said, “Our strategy would be to create a fund portfolio with a combination of high conviction ideas with a long-term orientation within a robust risk management framework. Equity portion would be market capitalisation agnostic, while Debt portion would be invested in high credit quality portfolio with a short-to-medium duration profile.”

Mr. D P Singh, Chief Business Officer, SBI Mutual Fund said: “The aspirations of children today are very different and have been shaped by the strong influence of the evolving media & technology around us. Parents must have a strong financial plan to be prepared for these aspirations. I believe, children-oriented mutual funds are a compelling solution for parents to save for their children’s future as it helps create a separate ‘bucket’ in which they invest only for their child. Such a segregation in their investment can alert them to not dip into and withdraw from this corpus for an impulsive or short-term need. The fund is an ideal fit given its construct of being well-diversified across asset-classes, be it equity, debt or gold.”

‘’The SIP route works well for all long-term goals and in this fund particularly for young parents who can start planning early for their child’s dreams. Starting a SIP and regularly doing a top-up of their SIP amount every year can make funding for their children’s education easier.” Mr. Singh added. 

The NFO period of SBI Magnum Children’s Benefit Fund – Investment Plan opens on Tuesday, 8th September 2020 and will close on Tuesday, 22nd September 2020. The fund managers of the Investment Plan will be Mr. R. Srinivasan for Equity Portion and Mr. Dinesh Ahuja for Debt Portion.