Once again Mutual Fund Houses have entered into the New Fund Offer (NFO) bandwagon. With Asset Management Companies (AMC) such as Fidelity, SBI, HDFC, HSBC etc releasing their NFOs for various sectors, Reliance has also entered into the foray with their Reliance Equity Advantage Fund.
But what interests me is that Reliance MF is about to double their branch network from 300, due to an expected 25% increase in their Assets Under Management to Rs. 75,000 crore. Quite in line with the tradition of Reliance, ‘when doing something, do it big’.
Well, these are private matters pertaining to Fund houses. But, did you happen to think about the huge amount of money that would go into the hands of various mutual funds in the next few years? No wonder why the stock market is expected to touch more heights and create more records!
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