Reliance MF named country's best fund house in 2008

Anil Dhirubhai Ambani Group firm Reliance Mutual Fund has emerged as the best fund house in the country for 2008, while Vikrant Gugnani has been adjudged the best Chief Executive Officer, according to a Hong Kong-based journal.

Hong Kong-based Asia Asset Management, a journal of investments and pensions focusing on the institutional fund markets in the Asia Pacific region, has adjudged Reliance Mutual Fund the best fund house in India for year ended 2008, Anil Dhirubhai Ambani-led firm said in a statement.

"We have seen that Reliance Capital Asset Management continues to expand both its domestic and international franchise, re-affirming its dominance as the leading mutual fund house in India.

"Amidst the global economic crisis, its recent growth has been impressive. Thus, their commitment to the industry deserves to be recognised," Asia Asset Management publisher Leehock Tan said.

Gugnani was CEO of Reliance Mutual Fund from October 2005 to December 2008, and was instrumental in taking the company to leadership position. At present, he is Chief Executive of International Business of Reliance Capital.

"We convey our gratitude to our investors and partners who have been the driving force towards our success. Such recognition makes us more committed towards serving our investors with better products and services," Reliance Mutual Fund's newly appointed CEO Sundeep Sikka said.

Reliance Mutual Fund manages a corpus of over Rs 70,208 crore in the country and has over 71 lakh investors as on December 31, 2008.

The company offers investors a well-rounded portfolio and has a presence in over 400 cities and towns of the country.