Reliance Cap equity fund raises Rs 5,700 crore

Mumbai, Mar 16 (UNI) Reliance Capital Asset Management has created a history in the Indian Mutual Fund market by raising over Rs 5,759 crore from over 929,000 investors in its new scheme-- Reliance Equity Fund.

The scheme was opened for public subscription for a week ended March seven.

The company, a wholly owned subsidiary of Reliance Capital Ltd, today said that the Fund received tremendous response from the investors across the country, collecting highest ever money in the 42-year history of the Mutual Fund Industry in the country.

It replaced the 14-year old record of the UTI Mastergain IPO, which had garnered Rs 4,472 crore.

The recent record mobilisation in any equity fund was Rs 2,855 crore, mopped by SBI Mutual fund in its Blue Chip fund, which closed this January.

The record collection also soared up the Reliance Mutual funds equity portfolio to Rs 14,500 crore as on today.

UNI GC KD SKB1947