Introduction To Nippon India Mutual Fund
Nippon India Mutual Fund (NIMF), formerly known as Reliance Mutual Fund, is one of India’s leading asset management companies. Established in June 1995 as a joint venture between India’s Reliance Capital and Japan’s Nippon Life Insurance Company, NIMF underwent a significant transformation in October 2019 when Nippon Life acquired Reliance's stake, leading to the rebranding of the fund house to Nippon India Mutual Fund. The company is managed by Nippon Life India Asset Management Limited (NAM India), a subsidiary of Nippon Life Insurance Company, which holds 75.93% of its total equity share capital, with Reliance Capital owning the remaining stake.
As of September 30, 2024, Nippon India Mutual Fund manages assets worth Rs. 5,54,711.24 crores across various asset classes, including mutual funds, pension funds, alternative investments, and offshore funds. The fund house offers a diverse portfolio of 86 primary schemes, consisting of 49 equity schemes, 28 debt schemes, 8 hybrid schemes, and 2 commodity schemes. Some of its largest funds in terms of assets under management (AUM) include Nippon India Small Cap Fund, CPSE ETF, and Nippon India Multicap Fund. The company holds an 8.27% share of India’s mutual fund industry AUM. It operates across 264 locations in India and serves over 26.29 million investor accounts as of June 30, 2024.
Nippon India Mutual Fund made history in 2017 by becoming the first mutual fund company to be listed on the stock exchanges. The company’s asset manager, NAM India, also provides portfolio management, financial planning, and advisory services to a broad range of individual and institutional investors. With a robust presence in the Indian asset management industry, Nippon India Mutual Fund continues to rank among the top four mutual fund houses in India by AUM.
The company's evolution from Reliance Mutual Fund to Nippon India Mutual Fund reflects its strong growth and strategic transformation in the asset management space, which is led by CEO Sundeep Sikka.
Key Information
| Mutual Fund Name | Nippon India Mutual Fund |
|---|---|
| Asset Managemnt Company Name | Nippon Life India Asset Management Limited |
| Setup Date | 30th June 1995 |
| Incorporation Date | 24th February 1995 |
| Headquarters | Mumbai, India |
| CEO | Mr. Sundeep Sikka |
| Investors Relations Officer | Mr. Milind Nesarikar |
| Total AUM (as of September 30, 2024) | Rs. 5,54,711.24 Crores |
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