For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Reliance MF assets surpass Rs 1 lakh cr level

By Religare
|

Reliance MF assets surpass Rs 1 lakh cr level
Having regained the Rs 1-lakh crore level for average asset under Management, leading fund house Reliance Capital Asset Management Company (RCAM) expects a revival in retail investor interest in mutual funds to continue through the current fiscal and in the next year, said PTI.

 

"Growth in average AUM is mainly due to good liquidity and higher inflows in debt funds. We have lately seen an increasing interest from retail investors in the capital market through mutual funds, which is significant as the mutual fund industry is highly under-penetrated," RCAM. CEO Sundeep Sikka told PTI.

The average AUM of Reliance Mutual Fund, run by RCAM, grew by over Rs 9,200 crore in the last quarter to reach Rs 1,02,487 crore at the end of calendar year 2013, according to the latest data available with industry body AMFI (Association of Mutual Funds in India).

Currently, there are only two fund houses in the country with average AUM of more than Rs 1 lakh crore. While HDFC Mutual Fund tops the chart as the country's biggest fund house with average AUM of Rs 1,08,990 crore, Reliance MF is ranked second among the 44 fund houses.

"We aim at reaching every household in India and making mutual fund products available to one and all. We are committed to reach out to a large number of investors and confident of helping them create long-term wealth for themselves and their families," Sikka said.

Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings 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 Goodreturns 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 Goodreturns website. However, you can change your cookie settings at any time. Learn more