New Delhi: Driven by strong performance, Reliance Mutual Fund has emerged as the most successful fund house in the country for the quarter ended June 2009, according to Crisil Fund Services.
Crisil FundServices, in its Composite Performance Ranking (Crisil-CPR) for the quarter ended June, awarded the Crisil CPR 1 rank to six mutual fund houses. Crisil CPR is the relative performance ranking of mutual fund schemes within the peer group.
At the end of July, Reliance MF was the largest fund house in the country with assets under management worth Rs 1,08,334 crore.
The other fund houses which have notched the CPR 1 rank includes HDFC MF, ICICI Prudential MF, Birla Sun Life MF, DSP BlackRock MF and UTI MF.
"Reliance Mutual Fund's strong performance was driven by its superior performance on risk adjusted returns as well as on portfolio related parameters in the equity, liquid and ultra short term debt categories," Crisil FundServices Director Krishnan Sitaraman said.
The rankings are assigned every quarter with 21 different peer groups such as large-cap equity funds, mid and small-cap equity funds, balanced funds and liquid funds.
Crisil-CPR is assigned on a scale from 1 to 5, with the top rank of CPR 1 indicating 'very good performance'.
"Investors can use the Crisil~CPRs, which are publicly available, as a tool to support their investment decisions. These rankings are updated on a quarterly basis," Sitaraman added.
Crisil FundServices is India's leading provider of fund evaluation and research to the Indian mutual fund industry.
Reliance MF is followed by HDFC MF (Rs 83,366 crore), ICICI MF (Rs 73,329 crore), as per data available with the Association of Mutual Funds of India. Besides, at the end of July UTI MF had AUM of Rs 67,252 crore, Birla Sun Life MF (Rs 57,332 crore) and DSP BlackRock MF (Rs 17,262 crore).
Bureau Report
First Published: Friday, August 21, 2009, 20:44