Reliance MF retail debt assets grow 144% to Rs 19,000 crore

It also continued to generate the highest income per unit of AUM at 0.81%

Leading asset management company Reliance Mutual Fund, which generates the highest income per unit across the industry, has posted a growth of nearly 1.5 times in its retail debt asset base to close to Rs 19,000 crore for the last fiscal 2012-13.

The fund house's retail debt asset grew by 144% to Rs 18,998 crore for FY2012-13, from Rs 7,770 crore a year ago, shows its latest fiscal financial results.

The Reliance Mutual Fund (RMF) also saw its Asset Under Management (AUM) for debt asset class growing by 39% to Rs 15,141 crore in the latest fiscal, while outperforming the industry average growth rate of 33%.

RMF also continued to generate the highest income per unit of AUM at 0.81%, as against 0.80% for HDFC Mutual Fund, 0.59% for Birla Sunlife MF and 0.49% of ICICI Prudential.

During 2012-13, RMF's AUM grew by 17% to Rs 81,473 crore), as against HDFC MF's 8% growth to Rs 93,394 crore.

The increase in total income was 11% for RMF during 2012-13, as against HDFC MF's 13.62% and ICICI Pru's 11.14%.

Expanding its reach to retail investors beyond the top-15 cities, RMF also managed to attract 22% share of total industry inflow from smaller cities, the highest in the industry.

The fund house's total AUM from cities other than top-15 increased to Rs 12,240 crore at the end of 2012-13, from Rs 11,673 crores a year ago.