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Indian MFs bag 22 best fund awards; Reliance MF tops with six

Indian MFs bag 22 best fund awards; Reliance MF tops with six
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First Published: Wed, Mar 28 2007. 02 30 PM IST
Updated: Wed, Mar 28 2007. 02 30 PM IST
By PTI
New Delhi: Indian mutual funds have bagged as many as 22 awards for best performance across various categories in the Gulf region, with Anil Ambani Group entity Reliance MF stealing the show with highest number of accolades.
Franklin Templeton was also named as the overall best fund house by globally acclaimed fund tracking firm Lipper Inc among all the mutual fund companies doing business in Gulf region, while HDFC was selected as best company in the mixed-assets categories in terms of three-year returns.
Reliance MFs have bagged best fund awards in six categories, while the country’s largest fund house ICICI Prudential managed to get just one award.
Franklin Templeton grabbed the second slot among Indian funds with five awards, followed by HDFC and UTI with three each and DSP Merrill Lynch and Birla Sunlife MF getting two awards each.
The awards were presented at Lipper Fund Award Gulf 2007 ceremony in Dubai late on Monday night, criterion for which was to recognise best performing funds registered for sale in the Gulf States.
Reliance MF said in a statement that it has bagged awards across six sectors for their consistent and outstanding performance across three and five-year time periods.
Reliance Banking Fund Growth Plan bagged the best fund award for three-year return in the equity banking segment, while Reliance Growth Fund was named as best equity funds in three-year as well as five-year return categories.
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First Published: Wed, Mar 28 2007. 02 30 PM IST
More Topics: Money Matters | Mutual Funds |