Two Reliance MFs best global funds

Reliance Growth and Reliance Vision, two equity funds managed by Reliance Mutual Fund of the ADAG Group, have been ranked as the top two funds globally based on their five-year performance track record.

According to a release issued by Reliance Capital, the ranking is as per data from Lipper, which benchmarked top 20 performers from a global universe of open-ended equity funds. The base date for the performance calculation was taken till October 31, 2006 and the data was evaluated on USD.

"Based on Lipper's data, Reliance Growth Fund- Growth Plan - has given compounded returns of 71.39 per cent per annum, while Reliance Vision Fund has given compounded returns of 68.16 per cent, on a five year performance, making them the top two performing funds across the globe," the release added.

Reliance Mutual Fund manages Rs  31,572 crore and has 2.3 million investors as on October 31, 2006.