Reliance Nippon Life Asset Management Company said it will earmark Rs 165 crore for inorganic growth including acquisition of mutual fund companies.
"There is scope for inorganic growth in the mutual fund space. Out of 54 players, 50 per cent are making losses...it provides opportunity for acquisition," Reliance Nippon Life AMC's Deputy CEO, Himanshu Vyapak, said at a roadshow of the company's initial public offer (IPO).