RCAM's assets under management rises by Rs 7,000 cr in Apr-Jun

Reliance Capital Asset Management (RCAM) today said its assets under management (AUM) have increased by Rs 7,000 crore in the April-June period 2013, taking the total AUM to Rs 1.80 lakh crore.

 

"Total AUM now stands over Rs 1,80,000 crore across MFs, PMS, EPFO, pensions funds and offshore mandates," the company said in a statement.

 

During the first quarter of this fiscal year, the company registered 21% increase in its average AUM in mutual funds at Rs 97,771 crore.

 

"Our focus on increased retail participation and expanding our reach in Tier 2 and Tier 3 cities have helped us maintain high profitability in challenging times for the industry," Reliance Capital Asset Management (RCAM) CEO Sundeep Sikka said.

 

Meanwhile, the company completed 10,000 investor awareness programmes, the highest in the industry, across the country till the first quarter of FY14.

 

Moreover, it has added over 1,000 distributors in its network to 41,500 distributors in the first quarter of FY14, as compared to 40,500 during the same quarter last fiscal year.

 

RCAM is part of Reliance Capital, one of India's largest financial services companies with over 20 million customers.