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| Reliance Mutual Fund Awarded "Asset Manager for the year 2009" |
| Announcement / Corporate Nov 12, 2009, 20:06 IST |
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Close on the heels of the recent achievement of topping the CRISIL Ranking for two consecutive quarters, Reliance Mutual Fund bagged the second award within a week.
Asia Risk Awards, an event organized by the Asia Risk magazine, since 2000, felicitates institutions for their excellence in risk management. The awards are given to institutions in order to recognize best practices, commitment for innovation in derivatives and Risk Management. This event is intended exclusively for the Asia Pacific Region. These awards are open to the region’s domestic banks and securities firms, with the awards presented to the top local risk management/derivatives house in each Asian market. The awards are scheduled on the 12th November 2009 at Bangkok.
Reliance Mutual Fund under Reliance Asset Management Company was awarded with the most prestigious Asia Risk awards for being the first Indian asset management company, to implement an enterprise-wide risk management system. The MSCI BarraOne risk model was rolled out in late 2007 and has been fully integrated for use on 21 equity funds during the year 2008. Reliance Asset Management Company has been one of the pioneers in managing operational risk in India and implemented a system-wide operational risk framework.
RAMC has bagged 2 consecutive awards back to back within a week. The CRISIL’s Composite Performance Rankings (CRISL~CPR) for the period July-September 2009 where one saw Reliance Mutual Fund emerging as the best fund house with the most number of CPR 1 ranks, repeating its first quarter performance. The second award being The Asia Risk Awards. Reliance’s focus on careful risk management has yielded it stellar results in 2009, and it is gradually emerging as one of the Asian heavyweights from the nascent, but fast-growing Indian asset management market.
“Our mission is to bring Indian asset managers onto a global level through increased penetration into the retail market, which comes from simple and transparent products.”, said Mr. Sundeep Sikka, CEO, Reliance Mutual Fund While Reliance Capital Fund Management is already the biggest asset manager in India, its potential for further growth looks substantial.
Reliance Asset Management Company has a vision of being a leading player in the Mutual Fund business and has achieved significant success and visibility in the market. At Reliance Capital Asset Management Ltd., the implementation and observance of ethical processes and policies has helped RAMC in standing up to the scrutiny of our domestic and international investors.
“I feel proud of the team who has strived so hard to get us on this global platform today. We as a team are happy to fulfil the financial dreams of our investors added Mr. Sikka, CEO Reliance Mutual Fund.
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 1,18,251 crore, RMF is a clear leader with a 20% 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.
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