NEW DELHI, Sept 14: Soon to embark on its 20th year of existence, Reliance Group Fund has seen its Net Asset Value (NAV) cross Rs 700-level — becoming the first mutual fund scheme in the country to reach this milestone.
This also makes the per-unit-price of this midcap sector- focussed MF scheme, managed by leading fund house Reliance Capital Asset Management Company, higher than that of nearly half of the 30 biggest blue-chip stocks of the country that form part of the benchmark index Sensex.
“Our research team has been able to constantly remain ahead of the curve in identifying the right stocks and investment opportunities. This has given us a strong edge to offer superior returns to our investors.
“Many of our funds are among the best performers in their category. We will continue to keep our focus on intelligent and balanced stock picking,” RCAM Head of Equities Sunil Singhania said.
The fund was launched 19 years ago in October 1995 and its value has appreciated by nearly 71 times since inception. The fund has delivered a CAGR (Compounded Annual Growth Rate) of 25 per cent and has a corpus of over Rs 4,846 crore from lakhs of investors.
The closest competitor to this fund, in terms of vintage, is Franklin India Prime Fund that was launched in December 1993 and SBI Magnum (launched in September 1994).
Franklin India Prime Fund has a corpus of about Rs 2000 crore and has generated a CAGR of 21 per cent thereby multiplying the investors wealth by 55 per cent. The fund has an NAV of Rs 563.
SBI Magnum Global Fund 94 has an NAV of Rs 114 and has given a CAGR of 13 per cent on an AUM of Rs 1249 crore.
Reliance Growth Fund, a midcap fund, is primarily invested in financial, information technology, industrials and healthcare companies. The most invested stocks in the fund today are ICICI Bank, HCL Technologies and Aditya Birla Nuvo.
Some of the early identifiers for the fund that have given exponential returns include Lupin, Jindal Power and Steel, United Phosphorous.
RCAM’s another equity offering in large cap category — Reliance Vision Growth Fund — has crossed Rs 400 for the first time.
HDFC Equity Fund, with an NAV of Rs 460, leads the pack in this category. The two other funds that follow Reliance are Franklin India Prime Plus at an NV of 381 and HDFC Top 200 at NAV of Rs 335.
Reliance Vision Fund has a corpus of Rs 2,953 crore. Leader HDFC Equity Fund has a corpus of Rs 14,994 crore, Franklin India Prima Plus – Growth Fund has a corpus of Rs 2,661 crore, while HDFC Top 200 Fund has a corpus of 12,430 crore. (PTI)
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