Sundeep Sikka, executive director and CEO, Reliance Nippon Life Asset Management (RNAM), believes what is good for the investor is good for the industry. It is in this spirit that he steers RNAM’s retail-focused growth. With presence in 100 locations where no other AMC is present and 3 million SIPs that contribute over ₹10,000 crore on an annualized basis, the company is proud of the contribution it has made to increase the reach of mutual funds
What is the status of the sale of Reliance Capital Ltd’s stake in Reliance Nippon Life Asset Management to Nippon Life Insurance Co.?
Reliance Capital has communicated to the stock exchanges that it has offered JV (joint venture) partner Nippon Life the option to buy out its stake. Discussions are ongoing and there’s nothing new to add at this point of time.
Nippon Life is a valuable partner in two JVs with Reliance Capital—in asset management and in insurance. It came into the AMC with 26% in 2012 and has increased its stake in stages.