labels: reliance mutual fund, mutual funds
Reliance MF AuM crosses Rs50,000 crore mark news
10 May 2007

Mumbai: Reliance Mutual Fund, a part of the Anil Dhirubhai Ambani Enterprises'' Reliance Capital, has reported its assets under management (AuM) have crossed Rs50,000 crore, emerging as the largest fund house in the country. ICICI Prudential was at second place with AuM of Rs42,268 crore in April.

The company says it has become the second asset management company in the country to have been certified as being ISO 9001:2000-compliant, covering all functional areas, which is valid till the end of 2007.

Reliance mutual fund, part of reliance capital, bagged the ISO 9001:2000 certification, which is valid for its products'' design and development, sales and customer support services, a company release said.

According to the figures released by Association of Mutual Funds in India, Reliance Mutual Fund''s AuM reached Rs48,828 crore in April, netting Rs2,521 crore over Rs46,307 crore in March.

The combined AuMs of the 30 registered fund houses rose over Rs24,017 crore during the month to report a total of Rs350,441 crore in April this year as against Rs326,425 crore in March.

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Reliance MF AuM crosses Rs50,000 crore mark