Reliance MF beats UTI MF to emerge India''s top fund house

03 February 2007

Mumbai: Reliance Mutual Fund has emerged the country's largest fund house in January with assets under management (AUM) of more than Rs39,000 crore, beating UTI MF that had AUM of just over Rs37,535 crore.

Reliance MF added over Rs2,092.02 crore in January to its total AUM of Rs36,927.92 crore in December last year, according to data available with Association of Mutual Funds of India (AMFI).

The investor base of Reliance MF has grown to 3.1 million from 1.05 million in the previous year. Reliance MF now operates in over 500 cities in the country and has presence in the overseas markets.

Reliance Growth Fund was recently adjudged the best performing fund globally by international agency Lipper on five and ten-years' returns.

Reliance MF jumped to number one slot with AUM of Rs39,019.94 crore in January, well ahead of UTI MF, which is placed second with AUM of Rs37,535.07 crore.

Prudential ICICI MF is in the third place with AUM of Rs34,745.72 crore and HDFC MF fourth with AUM of Rs31,424.74 crore.