Leading asset management company Reliance Mutual Fund,which generates the highest income per unit across the industry,has posted a growth of nearly 1.5 times in its retail debt asset base to close to Rs 19,000 crore for the last fiscal 2012-13.
The fund house’s retail debt asset grew by 144 per cent to Rs 18,998 crore for FY2012-13,from Rs 7,770 crore a year ago,shows its latest fiscal financial results.
The Reliance Mutual Fund (RMF) also saw its Asset Under Management (AUM) for debt asset class growing by 39 per cent to Rs 15,141 crore in the latest fiscal,while outperforming the industry average growth rate of 33 per cent.
RMF also continued to generate the highest income per unit of AUM at 0.81 per cent,as against 0.80 per cent for HDFC Mutual Fund,0.59 per cent for Birla Sunlife MF and 0.49 per cent of ICICI Pru.
During 2012-13,RMF’s AUM grew by 17 per cent to Rs 81,473 crore),as against HDFC MF’s 8 per cent growth to Rs 93,394 crore.
The increase in total income was 11 per cent for RMF during 2012-13,as against HDFC MF’s 13.62 per cent and ICICI Pru’s 11.14 per cent.
Expanding its reach to retail investors beyond the top-15 cities,RMF also managed to attract 22 per cent share of total industry inflow from smaller cities,the highest in the industry.
The fund house’s total AUM from cities other than top-15 increased to Rs 12,240 crore at the end of 2012-13,from Rs 11,673 crores a year ago.