Reliance MF named India's best fund house

Terming its growth trajectory as impressive even in the midst of the ongoing global economic crisis, an international publication has named Reliance Mutual Fund as the country's best fund house for 2008.Anil Ambani group entity Reliance Capital Asset Management Company, which manages Reliance MF schemes, is the largest fund house in India in terms of assets."We have seen that Reliance Capital Asset Management continues to expand both its domestic and international franchise, re-affirming its dominance as the leading mutual fund house in India," said Hong Kong-based journal Asia Asset Management.The publication tracks institutional fund markets in the Asia Pacific region."Amidst the global economic crisis, its recent growth has been impressive. Thus, their commitment to the industry deserves to be recognised," Asia Asset Management publisher Leehock Tan said.The publication has also named Vikrant Gugnani, CEO of Reliance Mutual Fund from October 2005 to December 2008, as the best CEO in the MF industry. Currently, he is CEO of International Business of Reliance Capital."We convey our gratitude to our investors and partners who have been the driving force towards our success. Such recognition makes us more committed towards serving our investors with better products and services," Reliance Mutual Fund newly appointed CEO Sundeep Sikka said.Reliance Mutual Fund manages a corpus of over Rs 70,208 crore in the country and has over 71 lakh investors as on December 31, 2008.