Nippon India Mutual Fund

Reliance Mutual Fund Renamed as Nippon India Mutual Fund

Reliance Mutual Fund Renamed as Nippon India Mutual Fund

  • Reliance Mutual Fund has been renamed as Nippon India Mutual Fund as Nippon Life has become the single largest shareholder in the company.
  • This Asset Management Company (AMC) has been acquired by Japan’s largest life insurance company Nippon Life Insurance by acquiring 75 percent stake in the company, allowing Anil Ambani-promoted Reliance Capital to exit from the mutual funds business.
  • Nippon India Mutual Fund has now become the largest foreign-owned AMC in India.
  • In Reliance Mutual Fund, both Reliance Capital and Nippon Life held 42.88 percent stake each, while the rest was with public shareholders.

Points to Remember:

  1. Reliance Mutual Fund has been renames as?
  2. Which company has acquired maximum shares in Reliance Mutual Fund?
  3. What is the share of Nippon Life in Nippon India Mutual Fund?

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