Reliance MF has some large funds such as the growth fund, the diversified power sector fund and natural resources fund, which have contributed to its asset base.

Earlier, the Anil Ambani-promoted mutual fund had also come out with two new fund offerings (NFOs), which included Reliance Natural Resources Fund (Rs 5,660 crore) and Reliance Equity-linked Savings Scheme (ELSS) Series-1 that closed in March and whose collections the fund house has not announced so far.

The average AUMs of the mutual fund industry are also expected to be significantly higher this time around since unlike in March, liquidity was not a problem this time.

"In the last four years, we have managed to expand our investor base from 40,000 to 7 million investors and have a presence in more than 1,200 towns and cities. NFOs do help reach out to more investors since the company can work on a concentrated basis in the 30-day period, but we have stuck to the basics. We have not done more than two NFOs in a year," said Vikrant Gugnani, the chief executive officer of Reliance Mutual Fund.

The fund house plans to introduce "a different kind of Systematic Investment Plan (SIP)", going forward, said Gugnani.

AUMs of the mutual fund industry have swelled from Rs 14,8584.78 crore in April 2004 to Rs 5,28,935.59 crore in March 2008, a jump of nearly 256 per cent. The top three fund houses in the country, Reliance Mutual Fund, ICICI Prudential Mutual Fund and UTI Mutual Fund, accounted for 37 per cent of AUMs in March 2008.

Earlier, Eton Park, the US-based global multi-strategy investment organisation, had bought 5 per cent equity in Reliance Capital Asset Management for Rs 501 crore, valuing the AMC at over Rs 10,000 crore at the time. The investment valued the AMC at around 13 per cent of its AUMs.