Investors are excited about the prospects of owning an asset management business as Reliance Mutual Fund readies to enter the capital markets after the board approval for a public issue on Wednesday evening.
Reliance Mutual is the third largest player in the 40-member Indian mutual fund industry and manages assets worth Rs 3,58,059 crore. Of this, its mutual fund assets account for Rs 2,10,891 crore with 68 lakh investors, while managed accounts (EPFO, CMPFO and PFRDA) make up Rs 1,45,263 crore.
