Reliance Capital Asset Management Ltd. is in talks to acquire the Rs.7501-crore portfolio of JP Morgan Asset Management India Pvt. Ltd. This acquisition, if concluded, will close the gap between Reliance Mutual Fund and its two biggest rivals, ICICI Prudential Mutual Fund and HDFC Mutual Fund. As on 31 December 2015, Reliance MF’s total assets under management (AUM) stood at Rs 1.57 trillion.
This transaction will be the second acquisition of foreign mutual fund house by Reliance MF. In October 2016, Reliance MF bought the Indian mutual fund business of Goldman Sachs Group for Rs.243 crore.
Apart from Reliance Capital Asset Management Ltd, Tata Asset Management Ltd, DHFL Pramerica Asset Managers Pvt. Ltd, and a large bank-controlled mutual fund house have shown interest to buy the Indian mutual fund business of JP Morgan.
If the deal goes through, JP Morgan MF will be the seventh foreign mutual fund house to exit India in the last three years. JP Morgan MF was in news in August 2016 when it restricted redemptions from its two debt schemes having large exposure to debt securities of troubled Amtek Auto.
Other Funds by Nippon India Asset Management
| Scheme Name | 3Y Returns (%) | AUM (Rs. Cr.) | Category |
| Nippon India US Equity Opportunities Fund | 20.3 | 13.52 | Sectoral/Thematic Fund |
| Nippon India Index Fund Sensex Plan | 13.69 | 6.34 | Large Cap Fund |
| Nippon India Index Fund Nifty Plan | 11.8 | 127.05 | Large Cap Fund |
| Nippon India Large Cap Fund | 10.83 | 9832.83 | Large Cap Fund |
| Nippon India Banking Fund | 10.59 | 2959.26 | Sectoral/Thematic Fund |
| Nippon India Growth Fund | 10.47 | 7177.4 | Mid Cap Fund |
| Nippon India Gold Savings Fund | 10.28 | 655.99 | Gold Funds |
| Nippon India Japan Equity Fund | 10.25 | 17.58 | Sectoral/Thematic Fund |
| Nippon India Gilt Securities Fund | 10.23 | 995.98 | Gilt Fund |
| Nippon India Gilt Securities Fund Direct Defined Maturity Date-Growth | 10.23 | 995.98 | Gilt Fund |
| Nippon India Value Fund | 10.13 | 3374.75 | Value Fund |
| Nippon India Small Cap Fund | 9.9 | 7207.07 | Small Cap Fund |
| Nippon India Multi Cap Fund | 9.87 | 10053.46 | Multi Cap Fund |
| Nippon India Balanced Advantage Fund | 9.74 | 88.21 | Dynamic Asset Allocation |
| Nippon India Income Fund | 8.83 | 435.23 | Medium to Long Duration Fund |
| Nippon India Quant Fund Retail | 8.65 | 28.37 | Sectoral/Thematic Fund |
| Nippon India Banking & PSU Debt Fund | 8.5 | 4111.1 | Banking and PSU Fund |
| Nippon IndiaRetirement Fund – Income Generation Scheme Direct-Growth | 8.27 | 212.64 | Conservative Hybrid Fund |
| Nippon India Short Term Fund | 7.91 | 12068.23 | Short Duration Fund |
| Nippon India Prime Debt Fund | 7.82 | 9100.28 | Corporate Bond Fund |
{Data as on Feb 19, 2020; Source: Value Research}