Analysts see SBI Funds' alternative assets as growth driver

Brokerages Emkay Global and Equirus highlight SBI Funds Management's expanding portfolio in PMS, AIFs, and SIFs as a key long-term growth lever beyond its mutual fund franchise. These alternative assets, commanding market leadership with a 39.7% PMS share, offer higher margins and revenue diversification, cushioning against fee compression in the mutual fund industry. Analysts expect a 14% revenue CAGR and improved profitability.