SBI Mutual Fund: 5 top-performing schemes by 3-year and 5-year returns

SBI Mutual Fund: 5 top-performing schemes by 3-year and 5-year returns ahead of IPO

SBI Mutual Fund, a joint venture between the State Bank of India and Amundi Asset Management, has established itself as India’s largest asset management company by assets under management. As of March 31, 2026, the AMC managed assets worth ₹12,70,599 crore. The fund house, which has been operational for over 32 years and was registered with SEBI on December 23, 1993, currently oversees more than 210 schemes for over 40 lakh active investors.

Recent data provided by ACE MF as of July 10, 2026, highlights a shift in performance trends. While popular equity categories such as large-cap, small-cap, flexi-cap, and mid-cap funds are common, they failed to make the top-five list for 3-year and 5-year returns. Instead, market cycles have favored thematic, international, and gold-oriented strategies.

Top Performing Schemes by 3-Year and 5-Year Returns

The top five schemes based on 3-year and 5-year returns as of July 10, 2026, include three thematic funds, one gold fund, and one international fund of funds (FoF). These direct plans are managed by the following specialists:

• SBI Gold Fund: Managed by Viral Chhadva, this scheme seeks returns that closely correspond to the SBI Gold Exchange Traded Scheme (SBI GETS).
• SBI International Fund: Managed by Rohit Shimpi, this fund of funds invests in actively managed overseas equity schemes, predominantly in US markets, for long-term capital appreciation.
• SBI PSU Fund: Also managed by Rohit Shimpi, this scheme invests in a diversified basket of domestic Public Sector Undertakings (PSUs) and their subsidiaries, as well as debt and money market instruments issued by PSUs.
• SBI Healthcare Opportunities Fund: Managed by Tanmaya Desai, this fund targets long-term capital appreciation by investing in equity securities within the healthcare space.
• SBI Infrastructure Fund: Managed by Bhavin Vithlani, this scheme invests in companies involved in the infrastructure growth of the Indian economy.

Performance Across Different Time Horizons

For investors with varied horizons, the AMC offers different strategic strengths. For a 1-year horizon in FY26, the SBI PSU Fund is noted for capitalizing on the government's capital expenditure cycle in infrastructure and defense, with a 3-year CAGR of approximately 27-30%.

Over a 3-year period, the SBI Contra Fund, managed by Dinesh Balachandran, has utilized a contrarian strategy to achieve a 3-year CAGR of approximately 17.8% and a 5-year CAGR of approximately 19.6%. Similarly, the SBI ELSS, which carries a mandatory 3-year lock-in, delivered a 3-year CAGR of approximately 21.2% as of early 2026.

For a 5-year horizon, the SBI Magnum Children’s Benefit Fund-Investment Plan reported the highest 5-year CAGR among all SBI mutual funds at approximately 32.8%. The Healthcare Opportunities Fund also showed strength with a 5-year CAGR between 22-25% and a 3-year CAGR of 24.83%.

Long-term investors (10-year horizon) have seen the SBI Small Cap Fund, managed by R. Srinivasan, deliver a CAGR of approximately 22%.

Management and Structure

The equity desk is supported by a 29-member research team. Key leadership includes:

• Mr. Srinivasan: Chief Investment Officer of equity, who joined in 2009.
• Mr. Radhakrishnan: Head of the Fixed Income Portfolio, who joined in 2008.
• Mr. Denys: Deputy CEO since 2020.
• Mr. Singh: Overseer of all business verticals since 1998.
• Mr. Jain: Overseer of strategy and international business since 2001.

The corporate structure is a joint venture, with the partnership with Amundi, which began in July 2004 when SBI sold a 37% stake, has allowed the firm to adopt international asset management practices.

Investment Considerations

SIPs generally begin at ₹500 per month, with some schemes like the SBI Balanced Advantage Fund accepting ₹250.

Taxation on these investments follows the Union Budget 2026–27 rules. Equity mutual funds maintain a 20% short-term capital gains (STCG) tax and a 12.5% long-term capital gains (LTCG) tax on gains exceeding ₹1.25 lakh. Debt funds are taxed according to the investor's income slab.

Investors are cautioned that past performance does not guarantee future returns.