Reliance Capital’s MF equity fund garners record Rs 1,000 cr
30 Jan 2015 12:57 AM GMT
This is the highest collection ever till date in a pure closed-ended offering, not having the option of getting converted to an open-ended structure at a later stage.
The previous highest collection in a close-ended equity fund was by UTI focused Equity Fund Series II, which had mobilised around Rs 890 crore in December 2014.
"We are encouraged by this response from investors and sincerely thank them for their continued faith and trust in us," RCAM CEO Sundeep Sikka said. The fund saw wide-spread participation from investors across the country with nearly 50,000 applications, with 50 per cent of them coming from smaller cities. As of now, RCAM which runs leading fund house Reliance Mutual Fund, has eight closed ended equity funds including the recently concluded NFO - Reliance Capital Builder Fund II Series B.
RCAM has a total AUM of Rs 3,200 crore across all its closed ended equity funds. In last three months, RCAM has collected about Rs 450 crore in two separate close-ended equity funds, excluding the latest NFO. The industry collected Rs 9,500 crore through pure close-ended equity funds in the entire last calendar year 2014.
Reliance Close Ended Equity Fund Series A and Series B, launched in Oct-Dec 2013, have given an excess of 75 per cent returns each as of date.
"RCAM had been one of the early players in the Industry to start offering close-ended equity funds and the only player till date to offer equity oriented retirement fund to its investors.
The previous highest collection in a close-ended equity fund was by UTI focused Equity Fund Series II, which had mobilised around Rs 890 crore in December 2014.
"We are encouraged by this response from investors and sincerely thank them for their continued faith and trust in us," RCAM CEO Sundeep Sikka said. The fund saw wide-spread participation from investors across the country with nearly 50,000 applications, with 50 per cent of them coming from smaller cities. As of now, RCAM which runs leading fund house Reliance Mutual Fund, has eight closed ended equity funds including the recently concluded NFO - Reliance Capital Builder Fund II Series B.
RCAM has a total AUM of Rs 3,200 crore across all its closed ended equity funds. In last three months, RCAM has collected about Rs 450 crore in two separate close-ended equity funds, excluding the latest NFO. The industry collected Rs 9,500 crore through pure close-ended equity funds in the entire last calendar year 2014.
Reliance Close Ended Equity Fund Series A and Series B, launched in Oct-Dec 2013, have given an excess of 75 per cent returns each as of date.
"RCAM had been one of the early players in the Industry to start offering close-ended equity funds and the only player till date to offer equity oriented retirement fund to its investors.
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