Friday, July 4, 2008

Reliance Mutual Fund eyes inorganic growth overseas

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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  • Principal Emerging Bluechip fund (Stock picker Fund) 11%
  • Reliance Growth Fund (Stock Picker Fund) 11%
  • IDFC Premier Equity Fund (Stock picker Fund) (STP) 11%
  • HDFC Equity Fund (Mid cap Fund) 11%
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  • HDFC TOP 200 Fund (Large Cap Fund) 8%
  • Sundram BNP Paribas Select Midcap Fund (Midcap Fund) 8%
  • Fidelity Special Situation Fund (Stock picker Fund) 8%
  • Principal MIP Fund (15% Equity oriented) 10%
  • IDFC Savings Advantage Fund (Liquid Fund) 6%
  • Kotak Flexi Fund (Liquid Fund) 6%

Moderate Portfolio

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  • Principal Large Cap Fund (Largecap Equity Fund) 10%
  • Reliance Vision Fund (Large Cap Fund) 10%
  • IDFC Imperial Equity Fund (Large Cap Fund) 10%
  • Reliance Regular Saving Fund (Stock Picker Fund) 10%
  • Birla Sun Life Front Line Equity Fund (Large Cap Fund) 9%
  • HDFC Prudence Fund (Balance Fund) 9%
  • ICICI Prudential Dynamic Plan (Dynamic Fund) 9%
  • Principal MIP Fund (15% Equity oriented) 10%
  • IDFC Savings Advantage Fund (Liquid Fund) 6%
  • Kotak Flexi Fund (Liquid Fund) 6%

Conservative Portfolio

  • ICICI Prudential Index Fund (Index Fund) 16%
  • HDFC Prudence Fund (Balance Fund) 16%
  • Reliance Regular Savings Fund - Balanced Option (Balance Fund) 16%
  • Principal Monthly Income Plan (MIP Fund) 16%
  • HDFC TOP 200 Fund (Large Cap Fund) 8%
  • Principal Large Cap Fund (Largecap Equity Fund) 8%
  • JM Arbitrage Advantage Fund (Arbitrage Fund) 16%
  • IDFC Savings Advantage Fund (Liquid Fund) 14%

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