Reliance Capital Asset Management News

Japanese financial services giant Nippon Life has completed acquisition of additional 14 percent stake in Reliance Capital Asset Management (RCAM) for Rs 1,200 crore, raising its holding to 49 percent.

Japanese financial services giant Nippon Life has got markets regulator Sebi's nod for raising its stake in Reliance Mutual Fund to 49 per cent, completing the regulatory approval process for the deal.

After acquiring Goldman Sachs' India mutual fund business, top fund house Reliance Capital Asset Management (RCAM) is looking for more acquisitions in this highly-fragmented market.

The government's decision to allow Employees' Provident Fund Organisation (EPFO) invest 5 percent of its Rs 1 trillion investible fund in exchange traded equity funds has made mutual fund houses bullish about launching retirement equity funds, industry officials said.

Riding on the overall positive mood on the Indian economy, the asset base of the mutual fund industry in the country is set to grow faster at 18.6 percent per annum to top Rs.20 lakh crore ($325 billion) by 2018, says a top industry expert.

Top fund house Reliance Capital Asset Management Company on Friday roped in the largest Korean asset management firm Samsung AMC for a strategic alliance, which will allow the two companies to manage, market and distribute each other's investment products in India and South Korea.

Japanese financial services giant Nippon Life has completed its acquisition of 9 percent additional stake in Reliance Capital Asset Management (RCAM) for Rs 657 crore, taking its total equity to 35 percent.

Leading mutual fund house Reliance Capital Asset Management (RCAM) today said it has completed the regulatory clearance process for sale of additional stake to Japan's Nippon Life, following approvals of CCI and EPFO.

Competition Commission has approved Japanese financial services giant Nippon's proposed deal to hike its stake in India's top fund house Reliance Mutual Fund to 49 percent in multiple tranches.

In a record collection of funds, a closed-ended equity fund of Reliance Capital Asset Management has garnered Rs 1,000 crore from investors.

Reliance Capital Asset Management's open-ended equity growth scheme, Reliance Growth Fund, has achieved a net asset value (NAV) of Rs 600.