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Reliance Mutual Fund among the top five mutual fund houses in the country on the basis of AUM (assets under management). Reliance Nippon Asset Management Limited (Reliance AMC/Reliance Mutual Fund) was registered with the SEBI on 30th June 1995 as part of the Anil Dhirubhai Ambani Group (ADAG). With more than 59.44 lakhs folios and Assets Under Management or AUM of Rs. 240,445 crores (as of September 2018) under its belt, the fund house has established its repute as one of India’s top AMCs.
Reliance Mutual Fund offers its investors with a large portfolio of products as per the investor’s risk appetite and financial objectives. Some of the most popular schemes currently offered by Reliance MF include Reliance Small Cap Fund, Reliance Liquid Fund, Reliance Equity Hybrid Fund, Reliance Low Duration Fund and Reliance Large Cap Fund.
The Management Team of Reliance Mutual Fund includes industry stalwarts such as Sundeep Sikka, the Executive Director and CEO of Reliance Nippon Life Asset Management Limited; Himanshu Vyapak, Deputy CEO; Manish Gunwani, CIO of Equity Investments; and Amit Tripathi, CIO of Fixed Income Investments. Mr. Sundeep Sikka has previously worked with leading bodies of the financial sector including the Association of Mutual Fund of India (AMFI), as its chairman.
The wide range of mutual funds offered by Reliance AMC can be divided into a few key categories:
These are schemes of RMF that primarily invest in equities i.e. company stock and equity derivatives. The following are key subtypes and examples of equity schemes offered by Reliance Mutual Fund.
a) Large Cap Fund – These are schemes that primarily invest minimum 80% of assets in large cap companies. Examples – Reliance Large Cap Fund.
b) Large and Midcap Fund – Minimum investment in large cap and midcap equities/equity derivatives of these schemes is 35% each. Example – Reliance Vision Fund.
c) Multicap Fund – At least 65% of assets of these funds are invested across large, mid and small cap equities. Example – Reliance Multicap Fund.
d) Midcap Fund – A Reliance MF midcap fund will invest at least 65% of assets in mid cap equities/equity derivatives. Example – Reliance Growth Fund.
e) Small Cap Fund – Small cap scheme of Reliance Mutual Fund will invest 65% or more of its assets in small equities/equity derivatives. Example – Reliance Small Cap Fund.
f) Value Fund – This type of Reliance mutual fund will follow a value investment strategy and minimum 65% of portfolio will be equity and equity related investments. Example – Reliance Value Fund.
g) ELSS – Equity linked Savings Scheme of Reliance Mutual Fund provides tax saving benefits of up to Rs. 1.5 lakhs under Section 80C with equity/equity derivatives accounting for a major portion of the portfolio. Example – Reliance Tax Saver (ELSS) Fund.
h) Thematic/Sector Fund – This type of Reliance AMC scheme will invest mainly in equity/equity derivatives of companies belonging to a specific sector or theme. Example – Reliance Pharma Fund, Reliance Banking Fund, Reliance Diversified Power Sector Fund, etc.
i) Focused Fund: A focused fund limits the number of investments in its portfolio to 30 with minimum 65% invested in equity/equity derivatives. Example – Reliance Focused Equity Fund.
These are Reliance Mutual Fund Schemes that are primarily invested in debt and money market instruments. The following are some of the leading debt schemes offered by Reliance AMC:
a) Ultra Short Duration Fund – These are Reliance MF schemes that invest in debt securities which provide a portfolio with Macaulay duration of 3 – 6 months. Example – Reliance Ultra Short Duration Fund.
b) Low Duration Fund – The main investments of these Reliance AMC mutual funds are debt securities which result in a portfolio with Macaulay duration ranging from 6 months to 12 months. Example – Reliance Low Duration Fund.
c) Short Duration Fund – Reliance Mutual Fund schemes are classified as short duration schemes if their Macaulay duration of the portfolio is between 1 and 3 years. Example – Reliance Short Term Fund.
d) Long Duration Fund – The main investments of these schemes are debt and money market securities resulting in Macaulay duration of 7 years for the portfolio. Example – Reliance Nivesh Lakshya Fund.
e) Credit Risk Fund – This type of Reliance MF scheme invests at least 65% of assets in corporate bonds. Example – Reliance Credit Risk Fund.
f) Banking and PSU Debt Fund – In case of these debt schemes, a minimum of 80% is invested in debt instruments of Public financial institutions, PSU and banks. Example – Reliance Banking and PSU Debt Fund.
g) Dynamic Bond Fund – This type of debt scheme has the flexibility to invest in bonds irrespective of duration. Example – Reliance Dynamic Bond Fund.
h) Gilt Fund – If 80% or more of the assets of a Reliance mutual fund is invested in government securities, the scheme will be classified as a gilt fund. Example – Reliance Gilt Securities Fund.
i) Liquid Fund – The investments of this type of scheme are focused on debt and money market instruments with maturities of 91 days or less. Example – Reliance Liquid Fund.
j) Money Market Fund – This scheme from Reliance Mutual Fund will primarily invest in money market instruments with maturity not exceeding 1 year. Example – Reliance Money Market Fund.
These schemes of Reliance MF invest in both equity and debt instruments to provide a balance between returns and risk to investors. The following are the top hybrid schemed from Reliance Mutual Fund:
a) Arbitrage Fund – This type of scheme from Reliance AMC will follow an arbitrage strategy and invest at least 65% of assets in equity and equity derivatives. Example – Reliance Arbitrage Fund.
b) Balanced Advantage Fund – In this type of hybrid scheme from Reliance Mutual Fund, the equity and debt allocation of the fund is dynamically managed. Example – Reliance Balanced Advantage Fund.
c) Aggressive Hybrid Fund – An aggressive hybrid fund invests between 65 to 80% of assets in equity/equity derivatives and the remaining 20 to 35% of assets in various debt instruments. Example – Reliance Equity Hybrid Fund.
d) Equity Savings Fund – An equity savings fund is required to invest in hedged as well as unhedged assets apart from minimum 65% equity allocation and 10% debt allocation. Example – Reliance Equity Savings Fund.
e) Conservative Hybrid Fund – This type of scheme from Reliance Mutual Fund will primarily focus on debt investments (75% to 90% of assets) while the remaining 10% to 25% of assets would be invested in equity and equity derivatives. Example – Reliance Hybrid Bond Fund.
Solution oriented schemes from Reliance MF are designed to help investors make goal-based investments. Often these schemes have a lock-in period associated with them. For example, the Reliance Retirement Fund features a lock-in of 5 years from date of unit allocation or till date of retirement, whichever comes earlier.
Typically, passively-managed schemes from Reliance Mutual Fund such as index funds and Reliance ETFs try to replicate the performance of their chosen index. These schemes feature very low TER (total expense ratio) and offer returns in line with their chosen equity, debt or commodities index. Some examples of passively managed schemes of the AMC include – Reliance Index Fund – Nifty Plan, Reliance ETF – Sensex, Reliance CPSE ETF and Reliance ETF Long Term Gilt.
International funds offered by Reliance Mutual Fund primarily invest in foreign equities either directly or through an international mutual fund. Example – Reliance Japan Fund and Reliance US Equity Opportunities fund.
Gold investment solutions on offer from Reliance Mutual Fund include exchange traded funds backed by gold as well as gold funds that invest in gold ETFs via a fund of fund structure. The value of such investments varies based on variations in the price of gold. Examples – Reliance Gold Savings Fund, Reliance ETF – Gold BeES.
Reliance AMC offers some unique solutions to its investors, which is in line with its goal of delivering new and innovative investments options to investors:
Investors from all walks of life can gain various benefits by investing in the mutual funds on offer from Reliance AMC. The following are the key ones:
10 September, Reliance Mutual Fund Appoints Anand Devendra Gupta as Fund Manager for Reliance Arbitrage Fund. He will assume his new role on 12th September 2018 and will also be an additional fund manager for the Reliance Equity Savings Fund. Read More Mutual Fund News and Interviews
07 September, Reliance Mutual Fund Starts India Opportunities Fund NFO. This equity scheme will utilize a bottom-up strategy to select equity investments that offer future growth potential but have reasonably valuation at present. Read More Mutual Fund NFO News