- Reliance is the first fund in the industry to achieve NAV level of 1,000
- Reliance Mutual Fund was launched 21 years ago in October 1995
- The fund's initial investors have increased their wealth by 100 times
"It gives us immense satisfaction that Rs 1 lakh invested in our fund is valued at Rs 1 crore today, an endorsement of our belief that MFs are best investment option for long term value creation," Reliance Mutual Fund CEO Sundeep Sikka said.
"This growth of NAV -- from Rs 10 to Rs 1,000 -- which is a growth of 100 times in 21 years, also substantiates our view that AMCs with long term track record of 15-20 years like Reliance MF after sailing through volatile market condition will continue creating wealth for investors," he added.
NAV is the value per share of a mutual fund on a specific date or time.
Reliance Growth Fund, a mid-cap oriented fund, is primarily invested in financial, information technology,
industrials and healthcare companies.
Investors that stayed with the fund since inception have been benefited by growing their wealth 100-times till date.
The fund has a corpus of over Rs 5,000 crore from more than six lakh investors. As of March quarter, Reliance Mutual Fund has an assets base of Rs 2,10,890 crore.
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