Nippon Life Insurance announced the integration of Nippon India Mutual Fund (erstwhile
Reliance Mutual Fund) into their global unified Asset management fold, by becoming the single largest
shareholder in the company. Change in Reliance Nippon Life Asset Management (RNAM) name will
follow soon.
Nippon Life Insurance, a 130-year-old financial services conglomerate with significant global presence has over USD 700 Bn in AUM, which is more than the size of the Indian Asset management Industry and currently holds 75% shareholding in the company.
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