Reliance MF declares 40 pc dividend in Reliance NRI Eq Fund | business | Hindustan Times
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Reliance MF declares 40 pc dividend in Reliance NRI Eq Fund

Anil Ambani-controlled Reliance Mutual Fund on Tuesday announced a 40 per cent dividend in Reliance NRI Equity Fund and 15 per cent dividend in Reliance Media & Entertainment Fund, a company statement said in Mumbai.

business Updated: Sep 15, 2009 15:00 IST

Anil Ambani-controlled Reliance Mutual Fund on Tuesday announced a 40 per cent dividend in Reliance NRI Equity Fund and 15 per cent dividend in Reliance Media & Entertainment Fund, a company statement said in Mumbai.

Reliance NRI Equity Fund, is an open-ended diversified equity fund with investment objective of generating optimal returns by investing in equity or equity-related instruments primarily drawn from the companies under the BSE 200 Index.

The investment philosophy of Reliance Mutual Fund is to focus on wealth creation for all NRI investors, which corelates with the growth of Indian markets. Improved investor trust in financial institutions and consistency in performance of the fund have contributed to its growth, Reliance Mutual Fund's CEO, Sundeep Sikka, said.

The Reliance NRI Equity Fund is an exclusive offering for the NRI investor who is seeking an exposure to the Indian equity space. The fund specifically focuses on companies with high market capitalisation and stability. The NRI Equity fund has been benchmarked against the BSE 200 index and has consistently outperformed the benchmark and has amassed a corpus of Rs 130-crore in a short period of time.