Sunday, 26 May 2019
BREAKING NEWS

Aditya Birla Sun Life Retirement Fund: Should You Invest? – Moneylife

Reliance Capital Invites Nippon Life to Buy its Entire 42.88% Stake in Mutual Fund Business

Reliance Capital Ltd has invited Japanese Nippon Life Insurance Co Ltd to acquire its entire 42.88% stake in the mutual fund business. Both Reliance Capital and Nippon Life hold equal stake in the mutual fund business in India. 

In a regulatory filing, Reliance Capital, while responding to media queries, says, “Reliance Capital has invited its partner, Nippon Life to make an offer to acquire up to 42.88% stake held by Reliance Capital in Reliance Nippon Life Asset Management Ltd (RNAM).”

Both Reliance Capital and Nippon Life Insurance hold 42.88% stake each in RNAM. 

RNAM is the asset manager of Reliance Mutual Fund (RMF) schemes. RMF has a pan India presence across 298 locations and over 71,100 empanelled distributors.

At 2.50pm Thursday, Reliance Capital was trading 9% up at Rs157.95 while RNAM was trading 20% higher at Rs187.05 on the BSE. The 30-share Sensex was marginally up at 35,923 at that time.  

Source: https://www.moneylife.in/article/aditya-birla-sun-life-retirement-fund-should-you-invest/56411.html

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