Reliance Capital to set up Islamic fund management co in Malaysia
The Anil Ambani group-controlled Reliance Capital Asset Management Ltd (RCAML) said on Friday that it will establish an international
Islamic fund management company in Malaysia.
The leading asset management company recently received an in-principle approval from the Securities Commission of Malaysia to establish the fund management firm.
Reliance Capital now holds the unique distinction of being the fifth company in the world and the first in India to be allotted the coveted mandate, a release said here.
"We are proud to be the first company from India and the fifth in the world to be given this opportunity. We are the No 1 mutual fund house in India and the new opportunity is in line with our ambition to be one of the leading players globally," Reliance Capital CEO Vikrant Gugnani said in a statement.
Reliance Capital is managing a corpus of over Rs 71,093 crore as on October 31 for over 70 lakh investors. It offers investors a well-rounded portfolio of products to meet varying investor requirements and has a presence in over 400 cities across the country.