Reliance Mutual Fund eyes inorganic growth overseasJuly 2nd, 2008 - 9:38 pm ICT by IANS
Kolkata, July 2 (IANS) Reliance Mutual Fund is eyeing inorganic growth overseas but not at home, a top company official said here Wednesday. Speaking at the launch of SIP Insure, a mutual fund product, Reliance Capital Asset Management chief executive Vikrant Gugnani said: “We are looking for inorganic growth abroad, but not in India.”
The company has set up a 100 percent subsidiary in the UK, Reliance Capital Asset Management UK Plc., for which it has bagged the investment management licence, he added.
Despite the volatile situation in the domestic capital market, Gugnani seemed confident the mutual fund business would grow in India.
“We have seen 30-40 percent increase on systematic investment plan (SIP) sign-ups from March till May 31,” he said, adding Reliance Capital signs up around 60,000 SIPs in a month..
Its SIP asset under management till May 31 stood at Rs.3.5-Rs.4 billion, Gugnani said.
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- Reliance Asset Management starts Dubai operations - Apr 11, 2010
- Reliance Cap Q2 total income rises 19 percent - Nov 11, 2011
- Ian Lancaster joins as CEO of Reliance Capital in Malaysia - Jan 25, 2010
- Reliance Securities launches regular stock purchase plan - Aug 04, 2011
- Reliance Capital gets regulator's nod to sell stakes to Nippon Life - Jun 13, 2012
- Nippon's pact for 26-percent stake in Reliance asset firm - Mar 22, 2012
- Nippon Life to invest $290 mn in Reliance Capital arm (Lead) - Jan 19, 2012
- Nippon Life to buy into Reliance Group arm - Jan 19, 2012
- Reliance Life gets central bank nod for stake sale to Nippon - Sep 30, 2011
- Reliance launches 'Any Time Money' card - Dec 14, 2011
- Reliance Life concludes 26 percent stake sale to Nippon for $680mn - Oct 09, 2011
- Employees Provident Fund approves Reliance-Nippon stake deal - Aug 07, 2012
- Reliance Capital pact with Nippon in areas beyond insurance - Sep 01, 2011
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