Mumbai: SBI Contra Fund, the first contra scheme launched by an AMC in India has completed a milestone of 24 years. The AUM of the scheme stands at Rs. 11,893 crores as on 30th June 2023. The scheme has generated 18.97% return since inception vis-à-vis 15.28% of its benchmark S&P BSE 500 TRI. If someone invested a lumpsum of Rs 1 lakh in the fund when it was launched, the investment would have become Rs 65.20 lakhs. The number of folios stands at 8.78 lakhs.
Launched on July 5, 1999, the scheme has offered point-to-point returns of 18.71% in 5 years, 40.91% in 3 years and 32.63% over 1 year. During the same time period the scheme’s benchmark (S&P BSE 500 – TRI) delivered 13.86%, 26.40% and 23.98% return, respectively.
A monthly SIP made in the fund of Rs. 10,000 since inception (Rs. 28.8 lakhs invested) would be worth Rs. 4.87 crores as on June 30, 2023, delivering returns of 19.57%. Similarly, the scheme has delivered returns of 15.13% (15 years), 17.55% (10 years), 26.51% (5 years), 28.73% (3 years) and 28.25% (1 year) vis-à-vis its benchmark S&P BSE 500 TRI returns of 13.93% (15 years), 14.49% (10 years), 17.10% (5 years), 16.77% (3 years) and 19.32% (1 year).