Bank of India Mutual Fund — established in March 2008 as a collaboration between Bank of India and global insurer AXA — is one of India’s smaller public sector bank-sponsored AMCs. Bank of India is among India’s oldest public sector banks, with a global presence including branches in London, Paris, and Berlin. The fund house manages approximately ₹11,732 crore in AUM as of January 2025 across 19 active schemes — comprising 9 equity funds, 6 debt funds, and 4 hybrid funds — and serves approximately 723,828 investor folios.
The AMC’s size places it firmly in India’s small AMC tier — considerably smaller than SBI Mutual Fund, Union Mutual Fund, or LIC Mutual Fund among public sector bank-associated fund houses. As with all small AMC evaluations, the investment decision depends entirely on whether specific schemes deliver category-competitive returns, not on the brand trust of the sponsoring bank.
Bank of India Small Cap Fund — 2024 Category Standout
Bank of India Small Cap Fund delivered 43.1% returns in 2024 — ranking second in the small cap category behind Motilal Oswal Small Cap Fund’s 46%. This performance is the most significant data point in Bank of India Mutual Fund’s recent history — placing one of its equity schemes prominently in national performance rankings for the first time. For investors who became aware of Bank of India Mutual Fund through this ranking, the standard advice applies: evaluate the fund’s rolling 3-year and 5-year returns across all available time windows before committing long-term SIP capital based on a single year’s outstanding performance.
Bank of India Equity Offerings
The AMC’s equity catalogue covers large cap, mid cap, small cap, flexi cap, and sectoral/thematic offerings. Bank of India Flexi Cap Fund, Bank of India Small Cap Fund, and Bank of India Mid & Small Cap Fund are among the equity schemes available. For each scheme, investors should compare rolling return performance against the category average on Value Research or Tickertape before making investment decisions — particularly given the AMC’s small size and relatively limited research team depth compared to larger AMCs.
Bank of India Debt Funds — Potentially More Aligned With AMC Strengths
Public sector bank-associated AMCs often perform more consistently in fixed income categories, where the parent bank’s credit experience and conservative institutional culture translate into sound debt portfolio management. Bank of India’s liquid fund, short-duration fund, and dynamic bond fund are worth evaluating for investors seeking fixed income exposure with a public sector bank institutional backing. The AMC’s AUM of ₹11,732 crore, while modest, is sufficient for operational stability in the liquid and short-duration debt categories.
The Honest Assessment
Bank of India Mutual Fund is a legitimate, SEBI-regulated AMC. Its investor folios of 723,828 reflect meaningful retail investor confidence. The Bank of India Small Cap Fund’s 43.1% return in 2024 demonstrates that small AMCs can deliver competitive returns in specific market cycles when their investment process aligns with market conditions.
However, for investors building a long-term core portfolio, the limited research team depth, small AUM, and absence of a long multi-cycle performance track record across most schemes make Bank of India Mutual Fund a secondary consideration rather than a primary portfolio anchor. Investors choosing this AMC should verify per-scheme rolling returns across 5-year windows and ensure the specific scheme has remained in the top 50% of its category consistently — not just in 2024.
Overview: Bank of India Mutual Fund Assessment
| Parameter | Details |
| AMC Established | March 2008 |
| Parent Institution | Bank of India (+ AXA originally) |
| AUM | ~₹11,732 crore (January 2025) |
| Investor Folios | ~723,828 |
| Active Schemes | 19 (9 equity, 6 debt, 4 hybrid) |
| Standout Performance | Bank of India Small Cap Fund — 43.1% in 2024 (category 2nd) |
| AMC Tier | Small — among India’s smaller AMCs |
| Key Evaluation Requirement | Verify 5Y rolling returns per scheme vs category |
| Best For | Bank of India customers; debt investing; satellite small cap |
| Not Best For | Core portfolio anchor for performance-focused long-term investors |
Frequently Asked Questions (FAQs)
Q1. Is Bank of India Mutual Fund safe?
Yes — SEBI-regulated with investor assets in segregated trusts. Bank of India’s sponsorship provides institutional credibility. Market-linked returns are not guaranteed.
Q2. Which Bank of India Mutual Fund scheme performed best in 2024?
Bank of India Small Cap Fund — 43.1% returns in 2024, ranking second in the small cap category.
Q3. Should I start a long-term SIP in Bank of India Mutual Fund?
For the core equity SIP — consider established AMCs first. Bank of India’s schemes can be evaluated as satellite additions once you verify that specific schemes consistently rank in the top 50% of their categories across 5-year rolling windows.
Q4. How does Bank of India Mutual Fund compare to SBI Mutual Fund?
SBI Mutual Fund is significantly larger (₹11+ lakh crore AUM vs ₹11,732 crore), has deeper research infrastructure, broader distribution, and a longer multi-cycle performance track record. SBI Mutual Fund is the more operationally mature public bank-associated AMC.
Q5. Where can I invest in Bank of India Mutual Fund schemes?
Through the Bank of India Mutual Fund website, Groww, Zerodha Coin, Angel One, or any major broker platform. Always choose the direct plan for lower expense ratios.