 "Reliance Growth Fund touches net asset value of Rs 900 crore")
Reliance Capital Asset Management's open-ended equity growth scheme, Reliance Growth Fund, has achieved a net asset value (NAV) of Rs 900 crore.
This is the first fund in the industry to achieve this NAV level. The fund was launched 21 years ago in October 1995.
"We would like to continue this growth journey and be the first to create more wealth creation milestones in the industry and for our investors," Reliance Capital Asset Management Chief Executive Officer, Sundeep Sikka said.
NAV is a value per share of a mutual fund on a specific date or time.
Reliance Growth Fund, a mid-cap oriented fund, is primarily invested in financial, information technology, industrials and healthcare companies.
Investors that stayed with the fund since inception have been benefited by growing their wealth 90-times till date.
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The fund has a corpus of over Rs 5,000 crore from more than six lakh investors.
As of June quarter, Reliance Mutual Fund has an assets base of over Rs 1.67 lakh crore.