Reliance MF Clocks Rs 59,143 Cr AUM In May

Reliance Mutual Funds (RMF), a part of Reliance ADAG's Reliance Capital, today posted 21 per cent rise in assets under management (AUM) at Rs 59,143 crore during May as compared to Rs 48,828 crore previous month. It also increased its market share to 14.67 per cent from 13.9 per cent in the said period, Association of Mutual Funds in India (AMFI) data said. Data showed that the mutual fund industry grew from Rs 3,50,279 crore last month to Rs 4,02,035 crore, clocking a growth of 14.85 per cent.
'We continue our focus on new customer acquisition and have added over 70,000 new customers in this month alone. This is a net result of our increased footprint across 150 cities in the country now,' company's President and CEO Vikrant Gugnani said. A large portion of this Rs 10,000 crore added during the month has come in from investments in fixed maturity plans while the balance is on account of investments in Interval Fund and Liquid Plus Fund.