Credit rating agency Crisil has assigned its top rating to Reliance Capital Asset Management, which reflects the company's high level of process quality and risk management capabilities.
The rating takes into account Reliance Capital Asset Management's (RCAM) adequate investment and compliance processes, strong focus on risk management and healthy client servicing practices, the Crisil statement said.
Crisil assigns the top rating of 'Fund House Level-1' to asset management companies (AMC), which are judged to possess the highest governance levels and process quality in fund management practices.
The rating is further supported by the experience of the boards of the AMC and the trustee company, Reliance Capital Trustee Company Ltd, the statement added.
"This rating reflects RCAM's highest level of process quality and risk management capabilities in fund management. We believe that with a robust internal system and operational processes in place, we are better equipped to meet investor needs and expectations," Reliance Capital Asset Management's CEO Sundeep Sikka said.
The Crisil report said Reliance AMC attached high level of importance to risk management, which is reflected in processes and practices adopted by it in the past few years.
The Anil Ambani Group firm RAMC is the investment manager of Reliance MF, which is the market leader with average assets under management of Rs 1,17,248.56 crore and investor base of over 70.97 lakh at the end of January.
