SBI Mutual Fund · Direct Growth · SEBI Category: Value/Contra
SBI Contra Fund is India's second largest value-contra fund at over ₹46,000 crore AUM — taking the purest contrarian approach of any fund in this category. The fund specifically seeks out sectors and stocks that are deeply out of favour with the market — making concentrated bets on recovery that most other fund managers are unwilling to make. This approach has delivered significant returns when contrarian bets have paid off.
The fund has historically made concentrated bets in sectors like PSU banking during the NPA cycle, energy stocks during the commodity bear market and defence stocks before they became mainstream. Dinesh Balachandran's willingness to hold these positions through extended periods of underperformance — and his conviction when they eventually recover — has been the key driver of returns.
Dinesh Balachandran is Fund Manager at SBI Funds Management and manages SBI Contra Fund with a pure contrarian investment mandate. He identifies sectors and stocks that are currently out of favour with the market and makes directional bets on their recovery. His contra approach requires deep conviction and willingness to hold unpopular positions — a psychologically demanding investment style.
For current co-manager details and full biography, refer to the latest SBI Mutual Fund factsheet on AMFI or the AMC website.
Informational points to help you form your own view — not judgements or recommendations.
Live data. Current fund highlighted. Click any fund name for full analysis.
| Fund | NAV | AAUM | 1Y Return | 3Y CAGR | 5Y CAGR | Sharpe (3Y) |
|---|---|---|---|---|---|---|
| ICICI Prudential Value Discovery Fund | ₹497.53 | ₹58.9K Cr Jan–Mar 2026 | -1.5% | +16.7% p.a. | +17.1% p.a. | 1.00 |
| SBI Contra Fund ▲ | ₹405.05 | ₹46.9K Cr Jan–Mar 2026 | -1.4% | +15.7% p.a. | +17.9% p.a. | 0.80 |
| HSBC Value Fund | ₹124.85 | ₹14.0K Cr Jan–Mar 2026 | +3.4% | +20.8% p.a. | — | 0.98 |
| Nippon India Value Fund | ₹240.13 | ₹8.7K Cr Jan–Mar 2026 | -0.9% | +18.9% p.a. | +16.5% p.a. | 0.94 |
| UTI Value Fund | ₹175.37 | ₹7.9K Cr Jan–Mar 2026 | -2.1% | +15.3% p.a. | +13.3% p.a. | 0.81 |
Calculated from 2,573 daily NAV records in RightAdvise DB. Last calculated: Jun 2026.
1M / 3M / 6M / 1Y — simple point-to-point return · 3Y / 5Y / 10Y — CAGR (compounded annual growth rate)
Based on all rolling windows in full NAV history. Dates show the start and end of each period.
Jan 1 to Dec 31 each year. Simple point-to-point — not CAGR.
Rolling returns show performance across every possible investment start date — not one cherry-picked number. Learn more →
How much the fund fell from its peak NAV — what investors actually experience during crashes. Calculated from full NAV history.
Calculated from actual NAV data. "Pre-inception" means the fund didn't exist during that period.
Calculated from 3 years of daily NAV — industry standard. Risk-free rate: 6.5% p.a. Last updated: Jun 2026. What do these mean? →
Our portfolio holdings page shows every stock the fund owns, sector allocation, and month-over-month changes — from official AMC disclosures.
See how SBI CONTRA FUND ranks against other Value/Contra funds on returns, drawdown, Sharpe ratio and AAUM — side by side.
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