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Reliance Mutual Fund and AMC Review 2019

Rated 3/5 by Top Share Brokers Team
 AMC Review

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Incorporated in 1995, Reliance Mutual Fund is managed by Reliance Nippon Life Asset Management Limited AMC. The Reliance Mutual Fund (RMF) was formerly known as Reliance Capital Limited (RCL).

Reliance Mutual Fund is a joint venture between Reliance Anil Dhirubhai Ambani (ADA) Group and Nippon Life Insurance Company (NLI) , where RADA holds 46.57% shares and NLI holds 49% stake in company as of Sep 2017.

Reliance Mutual Fund is promoted by Reliance Capital Limited. Reliance Capital is an RBI registered non-banking finance company with business interests including asset management and mutual funds, life, health and general insurance, commercial and home finance, stock broking, wealth management services, distribution of financial products, asset reconstruction and proprietary investments. Reliance Capital Limited is a part of Reliance Group led by Mr. Anil D. Ambani.

Reliance Nippon Life is involved in managing:

  1. Mutual funds including ETFs
  2. Portfolio management services, alternative investment funds (AIFs) and pension funds
  3. Offshore funds and advisory mandates.

Company has a network of 171 branches and over 58,000 distributors including banks, financial institutions, national distributors and independent financial advisors as of June 30, 2017.

In terms of Customer Care, their customer support is impressive as they have toll free no to call, email support and live chat available in regular office Hrs. Toll Free Number - 1800 300 11111, Customer Support Number - 022 30301111, Customer Support email - customer_care

Review Summary

Objective of Reliance Nippon Life Asset Management Limited is to provide mutual fund service and devise various collective schemes of savings and investments for people in India and abroad. Company ensures liquidity of investment for the unit holders and reasonable return on their investment.

About Reliance Mutual Fund

  • Fund Type:Indian Private
  • Name of AMC:Reliance Nippon Life Asset Management Limited
  • Name of Sponsor:Nippon Life Insurance Company, Reliance Capital Ltd
  • Name of Trustee Company:Reliance Capital Trustee Co. Ltd.
  • Registrar:Karvy Computershare Pvt. Ltd.
  • SEBI Registration Number:MF/022/95/1
  • Email:[email protected]
  • Address:
  • Contact Number:022-33031000


  • Robust Distribution Network - PAN India presence with 160+ locations, international presence in Singapore, Mauritius and United Kingdom.
  • Reliance Smart STeP - Systematic Transfer Plan.
  • Reliance SIP Insure - Systematic Investment Plan (SIP) with life insurance up to Rs 21 lakhs free of cost.
  • Reliance any time money card – Debit card linked with your MF investment.
  • In house fund manager team and strong risk management team.


  • Performance of funds is average.
  • Expense Ratio is high compare with competitors.

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Reliance Mutual Fund - Assets under management (AUM)
Year Quater FundValue (Rs Lakhs) Difference from previous quater
2019 Q1 (Apr-Jun) 22327193.29 -1102060.87 (-4.7 %)
2018 Q4 (Jan-Mar) 23429254.16 -259251.9 (-1.09 %)
2018 Q3 (Oct-Dec) 23688506.06 -856518.77 (-3.49 %)
2018 Q2 (Jul-Sep) 24545024.83 435423.56 (1.81 %)
2018 Q1 (Apr-Jun) 24109601.27 -448534.18 (-1.83 %)
2017 Q4 (Jan-Mar) 24558135.45 128064.72 (0.52 %)
2017 Q3 (Oct-Dec) 24430070.73 1213149.71 (5.23 %)
2017 Q2 (Jul-Sep) 23216921.02 841079.52 (3.76 %)
2017 Q1 (Apr-Jun) 22375841.5 1202011.74 (5.68 %)
2016 Q4 (Jan-Mar) 21173829.76 1501319.71 (7.63 %)
2016 Q3 (Oct-Dec) 19672510.05 1263321.05 (6.86 %)
2016 Q2 (Jul-Sep) 18409189 1611020.13 (9.59 %)
2016 Q1 (Apr-Jun) 16798168.87 861219.53 (5.4 %)
2015 Q4 (Jan-Mar) 15936949.34 149131.98 (0.94 %)
2015 Q3 (Oct-Dec) 15787817.36 399336.86 (2.6 %)
2015 Q2 (Jul-Sep) 15388480.5 814104.02 (5.59 %)
2015 Q1 (Apr-Jun) 14574376.48 750466.26 (5.43 %)
2014 Q4 (Jan-Mar) 13823910.22 1099159.97 (8.64 %)
2014 Q3 (Oct-Dec) 12724750.25 386116.13 (3.13 %)
2014 Q2 (Jul-Sep) 12338634.12 895866.18 (7.83 %)
2014 Q1 (Apr-Jun) 11442767.94 913452.27 (8.68 %)
2013 Q4 (Jan-Mar) 10529315.67 88072.72 (0.84 %)
2013 Q3 (Oct-Dec) 10441242.95 918449.97 (9.64 %)
2013 Q2 (Jul-Sep) 9522792.98 -450842.09 (-4.52 %)
2013 Q1 (Apr-Jun) 9973635.07 9973635.07 ( %)

AUM stands for assets under management or funds under management and is a measure how much money an asset management company (AMC) manages on behalf of clients. Value of AUM is calculated as sum of total holdings * most recent market price for each holding. Reliance Nippon Life Asset Management Limited has been ranked number 5 in terms of AUM in Indian Mutual Fund market.

Reliance Mutual Fund Product and Services - 2019

    Reliance Any Time Money Card.

    Reliance provides you with redemption of your investment money via Reliance Money Card in case of liquidity requirements. This option is primarily available with Reliance Liquid funds – Treasury Plan/Cash Plan or Reliance Money Manager Funds as primary scheme. This is a visa debit card linked with your mutual fund account and is powered by HDFC bank and Reliance Mutual Fund.

    You can redeem up to 50% of the balance in primary scheme or permissible limit by the bank or 50,000 whichever is lower.

    Reliance Salary Advantage

    This is the best plan for salaried employees where you can invest your surplus money from salary and earn better return compared to bank. In this scheme, surplus money from your salary account is invested in Reliance Money Manager Fund/ Reliance Liquid Fund Treasury Plan and can earn market linked debt returns every day.

    Salary Advantage is a special facility available in the selected schemes of Reliance Mutual Fund (RMF) to deduct the desired amount from the salary of the employees and remit the same to RMF on any date (working day) of the month or the quarter.

    Advantage of this scheme is daily return on your surplus funds. Funds are available to use any time (daily liquidity) and free access to over 1.8 million ATMs with Over 30 million merchant establishments. These funds are less volatile so money is safe and growing.

    Assume you are earning Rs 10,000 per month as salary, you don’t withdraw all of it on day one of your pay day, if you withdraw 20% money on day 2, it means you get interest on this 20% money for 2 days and rest of the amount will be invested as per the scheme. Average return on this scheme is 6 to 7% which is better than bank interest.

    Reliance Smart STeP (Systematic Transfer Plan)

    This is best investment tool for investors who want to invest lumpsum amount in schemes like liquid, Ultra short term funds etc. and choose to systematically transfer a variable amount into equity schemes. Since equity market is volatile in nature so you can choose to transfer higher amount when markets are down and a less amount when markets are high.

    Smart STeP will help you earn returns from both debt and equity, and through a systematic investment linked to the market levels.​ Let take an example, suppose one wish to invest 1.2 lakhs in equity funds, but this is bit risky to invest lumpsum amount in equity funds. So in first step you invest 1.2 lakhs in liquid/debt funds and choose to systematically transfer a variable amount into equity Fund of your choice. You have option to choose variable amount, higher amount would be transferred when markets are relatively low and a lower amount would get transferred when markets are relatively high. This is a smarter way to invest in equity schemes than investing a fixed amount at a regular frequency. In this option you are getting return on your initial investment of 1.2 lakhs as well as you are systematically investing in equity funds.

    Thus Reliance Smart STeP offers you the twin benefits  - Receiving reasonable returns from your liquid/debt scheme  + investing in equity schemes in a disciplined way in order to average the cost of your investments.

    Reliance SIP INSURE

    Reliance SIP Insure facility is an add on feature by Reliance Mutual Funds to save, invest and stay protected at the same time. It is a free of cost term insurance cover for Systematic Investment Plan SIP investors in equity schemes through Group Term Insurance. To get this insurance coverage, you have to invest in following mutual fund schemes: Reliance Growth Fund,Reliance Vision Fund,Reliance Tax Saver (ELSS) Fund, Reliance Retirement Fund Wealth Creation Plan, Reliance Retirement Fund Income Generation Plan.

    In case of demise of an investor during the tenure of the SIP, the insurance cover will take care of the unpaid installments. The nominee will be compensated with the sum assured without having to make any further contribution. The insurance coverage is for primary account holder only. The Life insurance covers upto 21 lakhs per investor across all schemes/plans and folios. For year 1, it covers 10 times the monthly SIP value, for year 2, 50 times the monthly SIP value and from year 3 onwards 120 times the monthly SIP, maximum coverage of Rs 21 lakhs for primary investor.

    Equity Funds

    Reliance Nippon Life Asset Management Limited is offering wide range of Equity Fund options. Investment in Equity funds are for investors with commensurate risk appetite & long term time investment horizon. Reliance Nippon Life Asset Management has one of the largest and highly experienced Equity fund management & research team. RNLAM offers wide range of equity oriented products which include - Diversified Equity Funds (Large/Mid/multi Cap/Hybrid Funds), Sector Funds (Banking, Pharma, Power & Media), Thematic & International (Retirement, Japan, US), Index Funds (Nifty, Sensex & Gold FoF), ETFs (Index, Sector, Thematic, Gold).

    DEBT Funds

    Reliance Nippon Life Asset Management Limited offers various kinds of debt funds like long term debt funds, short term debt funds, very short term debt funds, close ended debt funds in the form of FMPs. Debt Mutual funds are mainly invested in a mix of debt or fixed income securities like Treasury Bills, Government Securities, Corporate Bonds, Money Market Instruments. Main source of income is interest earned and capital appreciation so debt funds are low risk and low return kind of funds for safe investment.

    Liquid Funds

    Reliance Nippon Life Asset Management Limited offers various kinds of liquid funds to get better return on surplus money for a short period of time. Investor can deploy money in liquid fund for 1 day also. The Liquid funds are good for minimal capital risk and optimizing cash management. With Reliance Any time Money card, it can be redeemed any time as well as traditional mode of redemption option, no limit on entry and exit load. You earn return on surplus money on weekends by investing on Friday and redeem on Monday morning for regular cash flow. Liquid funds are best for salaried employee where they can invest surplus salary cash and redeem it any time as well as business people can also do the same on daily basis and redeem money on next working day.

    GOLD Funds

    Gold Mutual Funds are alternate of buying physical gold for Investment. They give better returns over physical gold investment. You can invest in Gold Exchange Traded Fund and Gold Savings Funds.

    Reliance Nippon Life Asset Management Limited Gold Funds are low cost, worry free of quality and security compare to physical gold. Gold Funds can be redeemed any time so better option in term of liquidity. The gold funds can be bought & sold online so it’s kind of easy investment compare to physical gold.

    Reliance Mutual Fund Fact sheets

    Fact sheet (Fundamental) is updated every month and publish on Reliance Mutual Fund site. This give the monthly update on mutual fund performance and portfolio. The Fact Sheet include details about Fund Manager, Fund Size, NAV as of previous month, Volatility Measures, Expense Ratio, Load Structure, Mutual Fund Holding information, Industry Allocation, Dividend History and many more useful information. Reliance Mutual Funds Fact Sheets/Fundamental Monthly Reports from 2012 is available online. To download reports - click here

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Reliance Mutual Fund - by Scheme Category
AMC Category Number of Funds
Reliance Mutual Fund Solution Oriented Scheme - Ret 1
Reliance Mutual Fund Other Scheme - OtherETFs 2
Reliance Mutual Fund Other Scheme - Index Funds 1
Reliance Mutual Fund Other Scheme - FoF Domestic 1
Reliance Mutual Fund Other ETFs 14
Reliance Mutual Fund Liquid 2
Reliance Mutual Fund Income 229
Reliance Mutual Fund Hybrid Scheme - Equity Savings 1
Reliance Mutual Fund Hybrid Scheme - Conservative Hybrid Fund 1
Reliance Mutual Fund Hybrid Scheme - Balanced Hybri 1
Reliance Mutual Fund Growth 33
Reliance Mutual Fund GOLD ETFs 1
Reliance Mutual Fund Gilt 1
Reliance Mutual Fund Fund of Funds - Domestic 1
Reliance Mutual Fund Equity Scheme - Small Cap Fund 1
Reliance Mutual Fund Equity Scheme - Sectoral/ Them 1
Reliance Mutual Fund Equity Scheme - Multi Cap Fund 1
Reliance Mutual Fund Equity Scheme - Mid Cap Fund 1
Reliance Mutual Fund Equity Scheme - Large Cap Fund 1
Reliance Mutual Fund Equity Scheme - Large & Mi 1
Reliance Mutual Fund ELSS 2
Reliance Mutual Fund Debt Scheme - Ultra Short Duration Fund 1
Reliance Mutual Fund Debt Scheme - Overnight Fund 1
Reliance Mutual Fund Debt Scheme - Money Market Fun 1
Reliance Mutual Fund Debt Scheme - Medium to Long D 1
Reliance Mutual Fund Debt Scheme - Medium Duration 1
Reliance Mutual Fund Debt Scheme - Low Duration Fun 1
Reliance Mutual Fund Debt Scheme - Long Duration Fund 1
Reliance Mutual Fund Debt Scheme - Gilt Fund 1
Reliance Mutual Fund Debt Scheme - Corporate Bond F 1
Reliance Mutual Fund Debt Scheme - Banking and PSU 1
Reliance Mutual Fund Balanced 1

How to Invest with Reliance Mutual Fund

    Online investment via Website

    Open account online You just need your PAN card to open account. Fund can be release via debit card with ATM PIN, net banking, NEFT, RTGS, Interbank Mobile Payment Service (IMPS) and One Time Bank Mandate. This option is available 24X7 and investment and tracking of your fund is very easy.

    Reliance Mutual fund Mobile App

    Reliance Mutual Fund investment can be done via mobile app also. This app is very simple , safe and providing all investment option for customers. All payment options available same as website. Track your investment on your mobile. Mobile app is available on both android and IOS version.

    Reliance Mutual funds investment via SMS

    Invest in RMF through SMS from your registered mobile number. This process require one time bank mandate (OTBM) by submitting a request form. After getting register you can purchase, redeem and SIP transaction under your folio through SMS.

    Call and Invest

    Toll free number 1 800 300 11111 is available for online investment. To avail this service you need a registration form.

    Physical Form

    Paper based application forms are also available online and on branch offices for investment.

    Stock Exchange Platform

    Buy Reliance Mutual Funds via BSE STAT Platform and MFSS Platform from NSE.

Reliance Mutual Fund - Active Customer/Folio Count and Complaints
Year Folio Count Folio Count difference from last year Complaint Count Complaint %
2018-2019 9067607 895176 (10.95 %) 1084 0.01%
2017-2018 8172431 1326275 (19.37 %) 1173 0.01%
2016-2017 6846156 932497 (15.77 %) 1309 0.02%
2015-2016 5913659 353239 (6.35 %) 1454 0.02%
2014-2015 5560420 97053 (1.78 %) 2299 0.04%
2013-2014 5463367 -846027 (-13.41 %) 3453 0.06%
2012-2013 6309394 -786995 (-11.09 %) 13679 0.22%
2011-2012 7096389 -334264 (-4.5 %) 23633 0.33%
2010-2011 7430653 7430653 ( %) 25427 0.34%

Reliance Mutual Fund - Active Customer/Folio Count and Complaints table give you company performance in term of growth and customer satisfaction in term of complaints count and complaints % with respective of total folio.

Final thought about Reliance Mutual Fund

Reliance Mutual Fund RMF is a well-respected Mutual Fund House with a great offering. Reliance Mutual Funds is 3rd largest (As of Oct 2017) AMC in terms of total asset value with Average Assets Under Management (AAUM) of ` 2,31,425 Crores​​ ​(July 20​​​17 - September 2017 Quarter Q2) and 73.1​5 lakhs folios (as on​ 30th September​​, ​ ​2017​). Customer service is top-notch and clients have access to a well-known mutual fund platforms and tools. The strong in-house fund management team backed by reliable Risk Management team gives you more confidence and support in your investment. Products like Reliance Smart STeP, Reliance SIP Insure and Reliance Any Time Money Card are innovative offering from Reliance Mutual Fund.

If you like what you have read and want to choose Reliance Mutual Fund or any other AMC, leave your contact information with us and we will guide you.

Reliance Mutual Fund User Reviews

1. Rafiuddin  Sep 5, 2018 9:38:59 AM IST Reply
Hi, I want investment in matual fund, but I am working in Kuwait. Please can you tell us how to invest from here.

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