Reliance AMC collects Rs 5,660cr via new fund

Reliance Capital Asset Management Company today announced a collection of Rs 5,660 crore, the second highest collection by Reliance Capital AMC, through its just-concluded Reliance Natural Resources Fund.

The AMC had rolled out its latest fund, an open-ended equity fund, in January with a mandate to invest in companies engaged in the discovery, development, production and distribution of energy sources, precious and other metals, forest products, food and agriculture and other basic commodities.

The fund retains the ability to invest globally in the above sectors but would limit its exposure to a maximum of 35% of the entire corpus.

The fund would be managed by Sunil Singhania, Ashwani Kumar and Sailesh Raj Bhan.

The Reliance Long-Term Equity Fund had collected Rs 5,790 crore in 2005.