• search

Reliance Mutual Fund becomes number one among private funds

Written by: Staff
|

Mumbai, Apr 4 (UNI) Reliance Mutual Fund, a Reliance-Anil Dhirubhai Ambani Group (R-ADAG) bluechip, has become the number one private sector fund in India with its total Assets Under Management (AUM) at Rs 24,669 crores, a growth of over 100 per cent since March, 2005.

Equally noteworthy has been the quantum leap in the size of Reliance MF's equity portfolio, which, as at end FY 06 stood at over Rs.15,010 crore.

In the last one month (Feb-Mar, 2006) itself, Reliance MF's AUM has grown by Rs 7,810 crore, a company release today said.

A major contributor towards this growth was the Reliance Equity Fund-- New Fund Offer (NFO)-- which witnessed a collection of over Rs 5,759 crore. This is the largest NFO collection in the 42-year history of Indian mutual funds.

The number of unique investors across the various schemes of the fund house has also grown rapidly over the last year and was well over a million, even before the extraordinary response to the NFO, stated the release.

The NFO which closed on March 7, 2006, had received an overwhelming response with over 9.29 lakh applications.

UNI GC-JJ PP SKB2015

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more