The Elephant of the Indian mutual fund industry is just away from a marvelous milestone

Reliance Mutual Fund the country’s largest fund house in terms of asset under management is astray by Rs. 4000 crore to strike the miraculous Rupee One Trillion mark. According to the latest figures available on Association of Mutual Funds in India (AMFI), Reliance MF’s average asset under management (AAUM) is Rs. 96,386.40 crores at the end of April, 2008, a 6% growth in AAUM from 90,937.94 crores till March 30. Reliance MF acquires the lion’s share by managing 17% assets of the entire mutual fund industry as per the April month closing data. Reliance MF is continuously stretching the gap with it peers, as since over a year and 3 months the scheme is unbeatably ruling the mutual fund industry. Its closest peer ICICI Prudential MF AAUM stood at Rs 55,708.52 crore. UTI MF stood at the third position with an AAUM of 52,549.40 crores, and HDFC MF which grew 15% ranked fourth in the 34 – member mutual fund industry.