Yesterday a friend showed me the working of Reliance Mutual fund – he does not want to share the work publicly though. He took a very (perhaps not practical) view that an investor does a Rs. 1000 SIP in each and every equity fund of reliance mutual fund right from the date of launch of the fund.
The results were not very nice – the number of non performing fund schemes is hurting. Even though the client would have done well in Vision, Growth and a couple of others, many other schemes have hurt. Also I do not have the numbers, and commenting would be wrong because he did not have such a study of other fund houses, I will leave you with a Wall Street Journal article on Reliance Mutual fund.
Did you notice the ADAG has quietly dropped ADAG…and calls itself Reliance..Will it improve their cash flows? Er…not sure 🙂
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