Reliance Nippon Life Asset Management Gets Mandate from Employees’ State Insurance Corporation to Manage its Funds

Deepthi | Myequity news | Date : 11-10-2018 11:55:00 IST

Reliance Nippon Life Asset Management (RNAM), the asset management joint venture of Reliance Capital and Nippon Life Insurance of Japan, announced it has received mandate from the Employees’ State Insurance Corporation (ESIC) to manage its funds.

RNAM has been awarded this prestigious mandate after successfully fulfilling an independent competitive technical and financial bidding process. The mandate was awarded after considering various factors including the company’s experience in managing debt funds, track record in managing similar funds, operational processes, risk management practices and financial strength.

RNAM already manages mandates from Employees’ Provident Fund Organization (EPFO), The Coal Mines Provident Fund Organization (CMPFO) and The Pension Fund Regulatory and Development Authority (PFRDA), thus becoming the only asset manager to manage all the four prestigious mandates.

Sundeep Sikka, ED & CEO, RNAM, said, "We are particularly proud to have received this mandate, which is a reaffirmation of our strong investment processes and consistent track record of delivering returns."

About Reliance Nippon Life Asset Management:

Reliance Nippon Life Asset Management Limited - RNAM (formerly Reliance Capital Asset Management Limited) is one of the largest asset managers in India, managing (directly & indirectly) assets across mutual funds, pension funds, managed accounts, alternative investments and offshore funds. RNAM is the asset manager of Reliance Mutual Fund (RMF) Schemes.

More from Myequity