New Delhi: Reliance Capital Asset Management's open-ended equity growth scheme, Reliance Growth Fund, has achieved a net asset value (NAV) of Rs 600.
This is the first fund in the industry to achieve this NAV level. The fund was launched 19 years ago.
"Our in-depth research capabilities coupled with stocks picking abilities have, over the years, yielded superior returns to our investors. We are confident of offering superior returns to our investors in future," Reliance Capital Asset Management CEO Sundeep Sikka told PTI.
Reliance Growth Fund, a mid-cap oriented fund, is primarily invested in financial, information technology, industrials and healthcare companies.
The fund has a corpus of over Rs 4,600 crore from six lakh investors.
Investors that stayed with the fund since inception and have been benefited by growing their wealth over 60-times till date.
"Investors that invested Rs 1 lakh in Reliance Growth Fund have now grown their investments to Rs 60.44 lakh. However, if the same amount was invested in benchmark, the wealth would have grown to Rs 7.74 lakh. We are hopeful of maintaining our focus towards generating better returns for our investors," he said.
