Reliance Growth Fund Hits Milestone. Rs 1 Lakh Turns Rs 1 Crore In 22 Years

The net asset value or NAV of Reliance Mutual Fund's equity fund, Reliance Growth Fund, hit the Rs 1,000 milestone. This is the first fund in the industry to achieve this Rs 1,000 NAV level, according to news agency Press Trust of India. The fund was launched nearly 22 years ago in October 1995. This means an investor who had put Rs 10 in the fund at its inception would have seen his or her money grow 100 times in nearly 22 years. In other words, if Rs 1 lakh would have been invested, today its value would have been Rs 1 crore if investors had stayed with this fund. NAV is the worth, in market terms, for each unit of the fund. "It gives us immense satisfaction that Rs 1 lakh invested in our fund is valued at Rs 1 crore today, an endorsement of our belief that MFs are best investment option for long term value creation," Reliance Mutual Fund CEO Sundeep Sikka said. "This growth of NAV - from Rs 10 to Rs 1,000 - which is a growth of 100 times in 21 years, also substantiates our view that AMCs with long term track record of 15-20 years like Reliance MF after sailing through volatile market condition will continue creating wealth for investors," he added. Reliance Growth Fund is a midcap-oriented fund that seeks to achieve long-term growth of capital by investment in equity and equity related securities. As of May 8, Reliance Growth Fund had a NAV of Rs 1,012.88. In past five years, Reliance Growth Fund has delivered a CAGR or compound annual growth rate of 18.24 per cent (as on April 30, 2017) annually, outperforming the 13 per cent CAGR returns of its benchmark S&P BSE 100. In past three years, Reliance Growth Fund has delivered a CAGR of 23.71 per cent annually. And since inception in October 1995, the fund has delivered a CAGR of 23.82 per cent annually as compared to 11.35 per cent return of its benchmark. Reliance Growth Fund has assets under management of over Rs 6,000 crore. Overall, the country's mutual fund industry managed an asset base of over Rs 18 lakh crore. Mutual funds are investment vehicles made up of a pool of funds collected from a large number of investors. The funds are invested in stocks, bonds and money market instruments, among others. Inflows into domestic equity mutual funds have helped Sensex and Nifty rise to record levels. According to estimates domestic investors are pouring in Rs 4,000 crore every month into equity mutual funds through systematic investment route. Systematic Investment Plans or SIPs are fixed amounts invested at regular intervals in a financial instrument.

Reliance Growth Fund Hits Milestone. Rs 1 Lakh Turns Rs 1 Crore In 22 Years

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