Top SBI Hybrid Mutual Funds in India – Meaning, Full Form & NAV

As of March 31 2025, SBI Funds Management Ltd reported Assets Under Management crossing ₹10.67 lakh cr. This equals more than a 15.5 % market share in India’s mutual fund industry. The scale reflects a large investor base, a wide product mix, and ongoing growth across equity, hybrid, and debt schemes.

List of Top SBI Hybrid Equity Funds for 2025

Here are the top SBI hybrid equity funds in India for 2025, sorted as per their AUM.

Name	AUM	NAV	Absolute Returns - 3M	Absolute Returns - 1Y	CAGR 3Y	CAGR 5Y	Expense Ratio	Exit Load	Volatility
SBI Equity Hybrid Fund	81951.9	342.5	3.0	13.9	14.7	15.5	0.7	1.0	8.8
SBI Arbitrage Opportunities Fund	39858.6	36.8	1.5	7.0	7.8	6.5	0.4	0.3	0.8
SBI Balanced Advantage Fund	38628.4	16.6	4.0	9.5	14.9	0.0	0.7	1.0	6.4
SBI Multi Asset Allocation Fund	11306.2	70.3	6.7	15.7	18.2	15.9	0.6	1.0	6.4
SBI Conservative Hybrid Fund	9953.1	81.4	2.2	7.7	10.6	10.9	1.1	1.0	3.2
SBI Equity Savings Fund	5993.2	26.9	1.6	6.7	11.8	11.2	1.0	0.1	5.5

Disclaimer: Please note that the above list of the SBI Hybrid mutual funds is for educational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Mutual Fund Screener and is subject to real-time updates.

Note: The data on the list of the best SBI Hybrid funds is from 20th November 2025. This data is derived from the Tickertape Mutual Funds Screener.

• AMC: SBI Asset Management Limited
• Plan: Growth
• AUM: Sorted from highest to lowest

Pro Tip: You can use Tickertape’s Mutual Fund Screener to research and evaluate funds with over 50+ pre-loaded filters and parameters.

Overview of the Top SBI Hybrid Equity Funds

SBI Equity Hybrid Fund

SBI Equity Hybrid Fund allocates a portion to equities and the remainder to debt instruments within its mandate. Behaviour may vary with market cycles, asset mix, and interest rate movements. Outcomes depend on factors such as valuation trends, sector exposure, portfolio strategy, and broader economic conditions.

SBI Arbitrage Opportunities Fund

SBI Arbitrage Opportunities Fund generally follows an arbitrage-based structure, where price differences across cash and derivatives markets influence outcomes. Returns may depend on market volatility, liquidity conditions, and execution efficiency. Portfolio behaviour may differ across time depending on arbitrage availability, regulatory conditions, and broader equity market sentiment.

SBI Balanced Advantage Fund

SBI Balanced Advantage Fund operates under a dynamic allocation framework that adjusts exposure between equity and debt based on its internal model. Behaviour may change across market phases depending on valuation conditions, risk metrics, and strategy decisions. Outcomes may reflect overall asset mix, portfolio shifts, and macroeconomic developments.

SBI Multi Asset Allocation Fund

SBI Multi Asset Allocation Fund invests across equity, debt, and additional permitted asset classes as per its mandate. Performance patterns may differ across cycles due to diversification structures, valuation environments, and asset-class correlations. Allocation decisions, category behaviour, and market conditions may influence how the scheme evolves.

SBI Conservative Hybrid Fund

SBI Conservative Hybrid Fund typically allocates a higher percentage to debt instruments, with limited exposure to equities. Behaviour may vary depending on interest rate movement, issuer quality, equity market sentiment, and asset mix. Portfolio outcomes may shift across market cycles depending on strategy execution and category-related characteristics.

SBI Equity Savings Fund

SBI Equity Savings Fund combines equity exposure, derivatives, and debt instruments within its regulatory framework. Outcomes may vary based on volatility, hedge efficiency, interest rate movement, and valuation conditions. Portfolio behaviour may reflect market cycles, risk controls, and allocation adjustments across hybrid components.

Key Information About SBI Hybrid Asset Management

Parameter	Details
Full legal name	SBI Funds Management Ltd. (Joint Venture between State Bank of India and Amundi Asset Management)
Promoter shareholding	SBI: 61.90%; Amundi: 36.36%; Others: 1.74%
Registered office	9th Floor, Crescenzo, C-38 & 39, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051
Experience in fund management	“38 years of rich experience in fund management”, as stated by the AMC
Business focus	Offers mutual fund management, including domestic schemes, offshore funds, and portfolio management services

How to invest in SBI Hybrid Equity Funds?

You can easily start to invest in SBI Hybrid mutual funds by following these steps:

1. To invest in the best SBI Hybrid mutual funds, you can visit a mutual fund investment platform such as smallcase.
2. The next step is to research and identify the SBI Hybrid mutual funds that match your financial goals. Tools like the Tickertape Mutual Fund Screener can help you filter and compare funds based on parameters such as returns, expense ratio, and fund size.
3. Once you shortlist the funds, visit smallcase, log in, and search for the fund by name. You can then choose the investment mode and complete the process.

Top Fund Managers of SBI Hybrid Equity Funds

R. Srinivasan

R. Srinivasan has been associated with the SBI Equity Hybrid Fund since January 2012. His responsibilities include overseeing portfolio decisions, monitoring market developments, and maintaining alignment with the scheme’s mandate. His work reflects SBI Mutual Fund’s equity investment framework, research-driven approach, and regulatory requirements applicable to hybrid fund structures.

Rajeev Radhakrishnan

Rajeev Radhakrishnan joined the management of the SBI Equity Hybrid Fund in December 2023. His role involves tracking macroeconomic factors, analysing debt-market movements, and supporting allocation decisions within hybrid structures. His work aligns with the AMC’s fixed-income research framework, investment discipline, and compliance obligations under the regulatory ecosystem.

Mansi Sajeja

Mansi Sajeja manages select hybrid strategies, including the SBI Equity Hybrid Fund and SBI Conservative Hybrid Fund. Her responsibilities include portfolio oversight, research interpretation, and monitoring of asset-class exposures. Her involvement reflects coordination across equity and debt components, strategy implementation, and compliance with hybrid category guidelines and portfolio governance processes.

Pradeep Kesavan

Pradeep Kesavan has been part of the SBI Equity Hybrid Fund management team since December 2023. His responsibilities include reviewing sector-level developments, assessing valuation environments, and supporting strategy execution under the hybrid structure. His role contributes to ongoing monitoring, portfolio maintenance, and adherence to the AMC’s research and risk framework.

Saurabh Pant

Saurabh Pant manages the SBI Conservative Hybrid Fund with responsibilities covering debt strategy evaluation, interest-rate monitoring, and issuer-level assessment. His work includes tracking market sentiment, liquidity patterns, and credit-quality considerations relevant to hybrid schemes. Responsibilities are aligned with SBI Mutual Fund’s investment philosophy and regulatory compliance norms.

Milind Agrawal

Milind Agrawal participates in the management of the SBI Conservative Hybrid Fund. His responsibilities include analysing fixed-income market behaviour, reviewing portfolio positioning, and supporting scheme-aligned allocation decisions. His role reflects SBI Mutual Fund’s structured investment process, ongoing research involvement, and adherence to hybrid category rules, operational controls, and audit frameworks.

Taxation on SBI Hybrid Equity Funds

Hybrid Category Type	Type of Gain	Holding Period	Applicable Tax Rate
Equity-Oriented Hybrid Funds (for example: SBI Equity Hybrid Fund, SBI Balanced Advantage Fund, when classified as equity-oriented)	Short-Term Capital Gains (STCG)	Less than 12 months	20%
	Long-Term Capital Gains (LTCG)	More than 12 months	12.5% (gains up to ₹1.25 lakh exempt annually)
Debt-Oriented Hybrid Funds (for example: SBI Conservative Hybrid Fund)	Short-Term Capital Gains (STCG)	Less than 36 months	Taxed as per the individual income tax slab
	Long-Term Capital Gains (LTCG)	More than 36 months	12.50%
Arbitrage-Linked Hybrid Funds (including SBI Arbitrage Opportunities Fund, which is categorised under arbitrage rules)	STCG	Less than 12 months	20%
	LTCG	More than 12 months	12.5% (exemption of ₹1.25 lakh applies if classified as equity-oriented)
Multi-Asset or Allocation-Based Hybrid Funds	STCG	Based on the equity or debt classification rules above	Follows tax treatment aligned with category structure
	LTCG	Based on classification	Applies as per the category regulatory definition

Documents Required To Invest in SBI Hybrid Equity Funds

To complete regulatory verification and onboarding for investments in SBI hybrid mutual fund schemes, certain documents are generally required:

• PAN card (mandatory for individuals)
• Proof of identity such as Aadhaar, Passport, Voter ID, or Driving Licence
• Proof of address if different from identity document
• Bank account proof such as a cancelled cheque, a passbook copy, or a statement
• Completed KYC or CKYC verification as per SEBI norms
• Additional documentation, where applicable, for institutions, NRIs, or legal entities

Risks of Investing in SBI Hybrid Equity Funds

• Dynamic Allocation Impact: Schemes such as SBI Balanced Advantage Fund may shift their allocation models based on internal valuation frameworks, potentially altering return patterns during volatile market phases.
• Debt-Linked Sensitivity: Debt-heavy schemes like SBI Conservative Hybrid Fund may be affected by interest-rate movements, credit events, and yield-curve shifts, potentially affecting short-term performance.
• Equity Exposure Variability: Funds such as SBI Equity Hybrid Fund or SBI Equity Savings Fund may behave differently depending on market sentiment, earnings trends, and sector positioning within equity portfolios.
• Arbitrage Efficiency Dependence: SBI Arbitrage Opportunities Fund may rely on available market spreads between the cash and derivatives segments, which can fluctuate with liquidity, volatility, or regulatory changes.
• Multi-Asset Diversification Behaviour: In the SBI Multi-Asset Allocation Fund, outcomes may shift depending on how non-equity asset classes, such as commodities or gold, perform relative to traditional market environments.

Factors to Consider While Investing in SBI Hybrid Equity Funds

• Equity–Debt Proportion: Each SBI hybrid category follows distinct allocation rules (for example, conservative, balanced advantage, equity savings), which may influence how the portfolio responds across different market phases.
• Mandate Execution Style: Some SBI hybrid funds follow rule-based allocation frameworks, while others follow active decision-making. This may affect portfolio stability and reaction speed during market transitions.
• Underlying Derivatives Usage: For schemes like SBI Equity Savings Fund or arbitrage-oriented products, the role of hedging strategies or arbitrage efficiency may be relevant when assessing category behaviour.
• Category-Specific Cost Structure: Expense ratios may vary across hybrid types because of asset mix, hedging components, and active strategy layers, potentially affecting net outcomes.
• Historical Category Behaviour: SBI hybrid funds have shown differing behaviour patterns over time, depending on asset composition, risk controls, and the role of active rebalancing within their structure.

To Wrap Up…

SBI hybrid mutual funds operate across different allocation styles, including conservative, arbitrage-linked, balanced advantage, and multi-asset. Scheme behaviour may differ depending on portfolio composition, allocation rules, and changing market conditions. If you plan to explore SBI hybrid mutual funds, you can use smallcase to access scheme details, historical data, and comparison features. You may review the information and take a decision based on your own assessment or seek professional guidance if needed.

Frequently Asked Questions About SBI Hybrid Equity Funds