Reliance MF emerges on top last quarter

By SiliconIndia   |   Monday, August 24, 2009
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Bangalore: Reliance Mutual Fund (MF) has emerged as the most successful fund house in India for the quarter ended June 30, 2009, according to Crisil FundServices, a fund evaluation and risk solutions firm. Reliance MF was the largest fund house in the country with assets under management worth Rs. 1,08,334 crore. Crisil FundServices, in its Composite Performance Ranking (Crisil-CPR) for the quarter ended June, awarded the Crisil CPR one rank to six mutual fund houses in India. Crisil CPR is the relative performance ranking of mutual fund schemes within the peer group. Crisil-CPR is assigned on a scale from one to five, with the top rank of CPR one indicating 'very good performance'. The other fund houses which have notched the CPR one rank include HDFC MF, ICICI Prudential MF, Birla Sun Life MF, DSP BlackRock MF and UTI MF. "Reliance Mutual Fund's strong performance was driven by its superior performance on risk adjusted returns as well as on portfolio related parameters in the equity, liquid and ultra short term debt categories," said Crisil FundServices, Director, Krishnan Sitaraman. The rankings are assigned every quarter with 21 different peer groups such as large-cap equity funds, mid and small-cap equity funds, balanced funds and liquid funds. Recently, Reliance MF announced dividends for three mutual fund schemes including its banking fund. The Reliance Banking Fund holders will receive 20 percent dividend, while the investors of Reliance Pharma Fund and Tax Saver (ELSS) Fund will get 15 percent dividend.
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