Reliance Capital Asset Management (RCAM), a part of Reliance Capital Ltd, has increased the total assets under management (AUMs) by Rs 7,000 crore during Q1 of 2013-14 fiscal.
In a filing to the BSE, the company said that the AUMs across mutual funds, PMS, EPFO, pension funds and offshore mandates now stand at Rs 1,80,000 crore. It has registered a 21 per cent increase in average AUMs in mutual funds to Rs 97,771 crore during the first quarter.
Sundeep Sikka, CEO, RCAM, said that the company’s focus on increased retail participation and expanding its reach in Tier 2 and 3 cities has helped it maintain profitability.
With the addition of 1,000 distributors in its network, the total stood at 41,500 during the first quarter.
It has also completed 10,000 investor awareness programmes till end June 2013. These were conducted in nearly 400 locations covering 1.8 lakh investors with over 80 per cent of the coverage beyond the top 15 cities.