Reliance MF News

RMF plans to raise up to Rs 14,000 crore in FFO3, which includes a base amount of Rs 8,000 crore.

The third tranche of the government's exchange traded fund (ETF) of top 10 state-owned companies saw bids worth Rs 9,200 crore from investors, which is 3.7 times the amount sought to be raised.  

Reliance Mutual Fund has received the government's approval to manage its Rs 3,000 crore CPSE Exchange Traded Fund, which was launched in March 2014.  

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.

Quick Heal has alloted 41.70 lakh equity shares at Rs 321 apiece, the upper end of the price band, to 10 anchor investors.

The transaction has been approved by the boards of the two companies and is expected to be completed in the current fiscal, RCAM's parent firm Reliance Capital said in a statement.

ICICI Prudential MF, the second largest fund house in terms of assets base, reported a profit after tax of Rs 247 crore, while Birla Sunlife MF posted a PAT of Rs 123 crore.

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.

Mutual fund companies have lined up nearly three dozen New Fund Offers (NFO) and have filed draft documents for them with market regulator Sebi pursuant to a rally in the stock market.

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.

Showing a strong surge in retail investor interest, top fund house Reliance Mutual Fund has seen the number of its new 'Systematic Investment Plans' grow three-times to 50,000 per month.

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