Reliance Mutual Fund has been adjudged the best equity fund house of the country for 2008 by an international research firm.
Reliance MF said in a statement that it has been adjudged the 'Best Equity Fund House' for the year 2008 by Morningstar India, the domestic arm of Morningstar Inc, a global research and information provider on stocks, mutual funds.
"The objective of awards was to recognise funds that had delivered superior performance in 2008 and also had delivered strong risk-adjusted returns for investors over the long haul, relative to appropriate benchmarks," Reliance statement quoted Morningstar as saying.
Reliance MF's growth fund has also bagged the award in small or mid-cap category owing to its strong performance during the three-year period. Also Reliance Monthly Income Plan was awarded in conservative allocation category.
"We are very happy to receive these awards, and this recognition would not have been possible without the support of the entire team of Reliance MF. As an organisation, we constantly endeavour to offer best-in-class products and services to increase value to our investors and we will continue to do the same," Reliance MF CEO Sundeep Sikka said.
As on February last, Reliance MF remained the largest fund house in the country with an assets under management of of Rs 81,62,708 crore at the end of February 2009.