Reliance Mutual Fund: Number 1 in terms of asset under management - by IshanNanda
Reliance Mutual Fund, number one mutual fund in the country in terms of assets under management has added another feather to its cap. Reliance Mutual Fund has become the first mutual fund house in India whose AUM has topped the Rs 1 lakh crore-mark.
For the last one year, Reliance’s AMC has been topping the AUM charts backed by strong inflows into equity schemes, as retail investors rushed to benefit from the booming stock market. Its Average Assets Under Management (AAUM) was in the order of Rs 90,938 crore for March, 2008. It also has one of the biggest investor bases in India with 66.87 lakh investors on its scrolls.
Reliance Mutual Fund announced one of the biggest NFO collections ever when it collected around Rs 5,660 crore through its Reliance Natural Resources Fund. Incidentally,it was Reliance itself that had registered the biggest NFO in the Indian mutual fund history with Reliance Equity Fund.