Reliance Nippon Life Asset Management (RNAM), asset manager of Reliance Mutual Fund, announced its financial results for the quarter ended June 30, 2017. RNAM assets grew by 24% YoY with AUM of Rs 3625.50 billion (USD 55.7 billion) as on June 30, 2017.

Mutual Fund Quarterly Average Assets Under Management for the quarter stood at Rs 2,229.64 billion (USD 34.3 billion) YoY increase of 34%.

Profit After Tax at Rs 1.03 billion (USD 15.8 million) YoY increase of 27%. Revenues stood at Rs 3.78 billion (USD 58.1 million) YoY increase of 23%.

Over 1.85 million SIPs and STPs, monthly SIP book stood at Rs 5.10 billion. Monthly Average AUM of Rs 464.51 billion 'Outside the Top 15 cities' as on  June 30, 2017.

RNAM has 6.27 lakh investor folios with QAAUM of Rs 141.49 billion (USD 2.1 billion) in the quarter ended June 2017.

Reliance Mutual Fund has a market share of 11.42% and is the first among the top 3 players in the AMC industry to go for listing.

''The company continues to strengthen its position by reaching out to the masses and by growing even in B15 cities. Our focus will be to create wealth for investors and long term profitable growth for the company,'' said Sundeep Sikka, ED & CEO, Reliance Nippon Life Asset Management.