RMF declares dividend in three of its flagship schemes

Reliance Pharma Fund beats market expectations Reliance Banking Fund maintains
consistent track record with dividend returns totaling 160% since inception.

RMF declares dividend in three of its flagship schemes
Reliance Pharma Fund beats market expectations
Reliance Banking Fund maintains consistent track record with dividend returns totaling 160% since inception.
MUMBAI, August 24, 2009: India’s largest Mutual fund house, Reliance Mutual Fund, part of the Anil Dhirubhai Ambani Group, announced dividend for three of its flagship equity schemes. The three schemes namely Reliance Banking Fund, Reliance Pharma Fund and the Reliance Tax Saver (ELSS) Fund have shown consistent performance over a sustained period as shown below:

Total dividend since inception:

Reliance Banking Fund --160%

Reliance Pharma Fund--40%

Reliance Tax Saver (ELSS) Fund--20%

“Our aim has always been to maintain positivity of results and ensure that we focus on long term wealth creation for our investors through prudent investment, monitoring of trends and higher safety. ” said Reliance Mutual Fund CEO Sundeep Sikka.
The dividend declared and the record dates are 28th Aug 09:

Reliance Banking Fund --160%
Reliance Pharma Fund--40%
Reliance Tax Saver (ELSS) Fund--20%

Benchmarked against the BSE Healthcare Index, the Reliance Pharma Fund has consistently delivered superior returns over the last five years, beating both its benchmark and peer Pharma funds by a considerable margin. (Source: www.valueresearchonline.com)
In the banking sector Reliance Banking Fund has a holding in the top performing banks in the country. “As the banks we are invested in are able to reduce lending rates, their business portfolio has grown multi fold. We expect a higher percentage of growth in the next quarter as the finance bill announced seems positive for this sector” said Mr. Sikka.
The Reliance Tax Saver (ELSS) Fund has been a steady performer that has in the last six months given returns of over 60% to investors. The investment portfolio of the fund comprises of blue chip companies that are consistent performers with strong fundamentals and excellent management capabilities with long-term growth outlook. With over 56 schemes in its portfolio, spread across 71 lakh investors, and an Assets Under Management (AUM) exceeding over One Lakh Crore, RMF has emerged as the largest and fastest growing mutual fund in the country. It has a presence in over 300 cities across the length and breadth of India and a large Fund Management team that comprises the best professionals in the Industry.

The NAV returns for the last six months for the 3 schemes in the growth plan as of last month end are as follows:
Reliance Banking Fund : 66.85%

Reliance Pharma Fund : 60.40%

Reliance Tax Saver (ELSS) Fund : 60.52%

About Reliance Mutual Fund
RMF has grown to be the leader in the Mutual Fund Industry in a short span of less than 5 years, beating much more established players in the field. With Assets Under Management (AUM), of 1,08,334 crore, RMF is a clear leader with a 30% lead over its nearest competition. With More than 90% of the applicants having less than Rs. 50,000 of investments and over 1 million SIP investors proves that Reliance Mutual Fund is truly a very retail focused fund house. Reliance Mutual Fund schemes are managed by Reliance Capital Asset Management Limited., a subsidiary of Reliance Capital Limited, which holds 93.37% of the paid-up capital of RCAM, the balance paid up capital being held by minority shareholders. Reliance Capital Ltd. is one of India’s leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital Ltd. has interests in asset management, life and general insurance, private equity and proprietary investments, stock broking and other financial services.

Source: http://www.prlog.org/10318675-rmf-declares-dividend-in-three-of-its-flagship-schemes.html