SBI vs JioBlackrock: Battle for Dominance in Asset Management

In response to Jioblackrock's competitive entry into the asset management sector, SBI Mutual Fund emphasizes its superior understanding of investor needs and competitive pricing. SBI's DP Singh welcomes the expanded market while highlighting challenges in digital strategies and unveiling a new fund offering targeting long-term investors.

In a direct retort to Jioblackrock's aggressive entry into the asset management arena, market giant SBI Mutual Fund has asserted its advantages, emphasizing a deep understanding of investor needs and competitive pricing.

DP Singh, Deputy Managing Director of SBI Mutual Fund, expressed optimism about the market expansion due to new players but underscored SBI's seasoned experience in the field.

Singh also announced a new specialized investment fund by SBI, named 'Magnum SIF', targeting long-term investors with a hybrid long-short strategy. This development comes as both companies vie for dominance in the evolving mutual fund market.

(With inputs from agencies.)