SBI Funds Management · tone and specificity signals across the available quarters.
Language signals
We have not used the opportunity of reduction of TER to make higher profits. What I'm saying either we are absolutely neutral or little positive... it increased because of the asset mix. The concentration on passive assets which are very low yielding has come down and replaced by high-yielding assets of equity and hybrid funds.
The alternative is a very large focus area for us and we'll continue to invest... we have grown from 5,300 crores to 6,800 crores in the last one year and this is very small compared to our operation but we have huge ambition plans.
We're very bullish on PMS-on-mutual-fund because that's a very right step... there are two benefits: we can launch PMS products with mutual funds and we expect a lot of PMS providers to have our mutual funds as part of their portfolio. So it's actually a double benefit for us.