Reliance Capital Asset Management (RCAM), part of Reliance Capital Ltd,,.has increased its total Assets Under Management (AUM) by Rs 70bn in Q1FY14. The total AUM now stands over Rs 180bn across MFs, PMS, EPFO, Pensions Funds and Offshore Mandates, The Company registered a 21 per cent increase in its Average AUM In Mutual Funds to RsÂ 977.71bnÂ during Q1FY14.
"Our focus on increased retail participation and expanding our reach In Tier 2 and Tier 3 cities has helped us maintain high profitability in challenging times for the Industry," said Sundeep Sikka, CEO, Reliance Capital Asset Management.
The Company has completed 10,000 Investor Awareness Programs, the highest in the industry, across the country till Q1FY14. The programs have been conducted in nearly 400 locations covering 1.8 lakh investors, with over 80% coverage beyond the top 15 cities. RCAM added over 1,000 distributors in its network to 41,500 distributors in Q1FY14, asÂ compared to 40,500 during the same quarter last fiscal year.
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